"TRADING IDEA FOR MONDAY (16.01.2012)"


The BSE Sensex jumped 117.11 points or 0.73% to settle at 16,154.62, its highest closing level since 11 January 2012. The index jumped 219.83 points at the day's high of 16,257.34 in mid-afternoon trade, its highest level since 12 December 2011. The index rose 12.27 points at the day's low of 16,049.78 in mid-morning trade. The S&P CNX Nifty surged 34.75 points or 0.72% to settle at 4,866, its highest closing level since 9 December 2011. The index hit a high of 4,898.85 in intraday trade. The index hit a low of 4,834.20 in intraday trade. The BSE Mid-Cap index rose 1.14% and the BSE Small-Cap index gained 1.44%. Both these indices outperformed the Sensex.
The market breadth was strong. On BSE, 1,892 shares rose and 922 shares fell and a total of 85 shares were unchanged. Among the 30-member Sensex pack, 19 rose while rest of them fell.
FOR TODAY:  WATCH 4865-4870 LEVEL CAREFULLY CROSSING WHICH NIFTY MAY TRY TO CROSS THE BARRIER 4900-4910 LEVEL. ON THE DOWNSIDE, BELOW 4860, FIRST SUPPORT EXISTS AT 4840 AND THEREAFTER, AT 4824. IT SEEMS THAT NIFTY MAY BREACH 4820 LEVEL TODAY. BELOW 4820, MAJOR SUPPORTS ARE AT 4800 AND 4770 LEVEL. IN ANY CASE, IF NIFTY CROSSED 4900, 4930 WILL BE NEXT TARGET AND THEREAFTER, 4950/5022 WILL BE SEEN WITHIN VERY SHORT TERM.
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