The BSE Sensex shed 74.66 points or 0.47% to settle at 15,738.70, its lowest closing level since 21 December 2011. The index jumped 97.87 points at the day's high of 15,911.23 in early trade, its highest level since 16 December 2011. The index lost 142.08 points at the day's low of 15,671.28 in late trade. The S&P CNX Nifty shed 19.85 points or 0.42% to settle at 4,714, its lowest closing level since 21 December 2011. The Nifty hit a high of 4,763.45 in intraday trade, its highest level since 16 December 2011. The Nifty hit a low of 4,693.20 in intraday trade. The BSE Mid-Cap index rose 0.07% and the BSE Small-Cap index gained 1.07%. Both these indices outperformed the Sensex.
The market breadth was positive. On BSE, 1,574 shares advanced and 1,240 shares declined and a total of 133 shares were unchanged. Among the 30-member Sensex pack, 19 declined while the rest of them gained.
FOR TODAY: On hourly chart, Nifty was able to close above the trendline support which lies around 4700 (psychological level also). On daily chart also, Nifty took support around 4530 level and thereafter, we saw a pull-back rally. From Fibonacci angle, high of 5100 and low of 4531, 50% and 61.8% retracement are lying around 4813 and 4880. All these indicates that we may see a pull-back rally for the expiry week as well as the last week of the calender year 2011.
WATCH 4733 LEVEL ON THE UPSIDE BREAKING WHICH NIFTY MAY HIT 4770 AND THEREAFTER 4800 LEVEL. ON THE DOWNSIDE, BELOW 4710, NIFTY WILL TRY TO BREACH 4700 LEVEL AND GET A SUPPORT AROUND 4680 AND 4660 LEVEL.
FOR THIS EXPIRY, IF NIFTY ABLE TO BREAK 4770/4800 LEVEL, WE MIGHT SEE 4813 AND 4880 (61.8% RETRACEMENT).
DISCLAIMER: NO HOLDING.
The market breadth was positive. On BSE, 1,574 shares advanced and 1,240 shares declined and a total of 133 shares were unchanged. Among the 30-member Sensex pack, 19 declined while the rest of them gained.
FOR TODAY: On hourly chart, Nifty was able to close above the trendline support which lies around 4700 (psychological level also). On daily chart also, Nifty took support around 4530 level and thereafter, we saw a pull-back rally. From Fibonacci angle, high of 5100 and low of 4531, 50% and 61.8% retracement are lying around 4813 and 4880. All these indicates that we may see a pull-back rally for the expiry week as well as the last week of the calender year 2011.
WATCH 4733 LEVEL ON THE UPSIDE BREAKING WHICH NIFTY MAY HIT 4770 AND THEREAFTER 4800 LEVEL. ON THE DOWNSIDE, BELOW 4710, NIFTY WILL TRY TO BREACH 4700 LEVEL AND GET A SUPPORT AROUND 4680 AND 4660 LEVEL.
FOR THIS EXPIRY, IF NIFTY ABLE TO BREAK 4770/4800 LEVEL, WE MIGHT SEE 4813 AND 4880 (61.8% RETRACEMENT).
DISCLAIMER: NO HOLDING.
