The BSE Sensex was up 324.69 points or 2% to 16,557.23, its highest closing level since 29 September 2011. The index jumped 363.39 points at the day's high of 16,595.93 in late trade. The index fell 1.77 points at the day's low of 16,230.77 in early trade. The S&P CNX Nifty was up 91.55 points or 1.87% to 4,979.60, its highest closing level since 29 September 2011. The Nifty hit a high of 4,991.15 and a low 4,882.05 in intraday trade. The BSE Mid-Cap index rose 1.36% and the BSE Small-Cap index gained 0.97%. Both these indices underperformed the Sensex.The market breadth was strong. On BSE, 1,692 shares rose and 1,095 fell and a total of 124 shares were unchanged. From the 30-share Sensex pack, 25 rose and the rest fell.
FOR TODAY: OI DATA STILL SUGGESTS THAT NIFTY MAY OSCILLATE BETWEEN 4800 AND 5200. HOWEVER, NOW 4910 WILL ACT AS A MAJOR SUPPORT. TODAY'S INFOSYS MOVEMENT (QUARTERLY GUIDANCE IS ON TOMORROW) AND NIFTY SPOT MOVEMENT ABOVE 5050 WILL INDICATE THE MOVEMENT FOR THIS EXPIRY.
WATCH 5034-5041 LEVEL (WEEKLY HIGH IS 5034.25) ON THE UPSIDE BREAKING (WITH VOLUME) WHICH NIFTY MAY MOVE TOWARDS 5168/5200. HOWEVER, 4990 IS ALSO A SUPPLY ZONE. IF NOT ABLE TO MOVE PAST 4990 AND STAYS BELOW 4960/4911, A MAJOR CORRECTION MAY BE SEEN WITHIN THIS EXPIRY.
WATCH 5034-5041 LEVEL (WEEKLY HIGH IS 5034.25) ON THE UPSIDE BREAKING (WITH VOLUME) WHICH NIFTY MAY MOVE TOWARDS 5168/5200. HOWEVER, 4990 IS ALSO A SUPPLY ZONE. IF NOT ABLE TO MOVE PAST 4990 AND STAYS BELOW 4960/4911, A MAJOR CORRECTION MAY BE SEEN WITHIN THIS EXPIRY.
