"TRADING IDEA FOR TUESDAY (17.01.2012)"


The BSE Sensex advanced 34.74 points or 0.22% to settle at 16,189.36, its highest closing level since 9 December 2011. The Sensex gained 59.74 points at the day's high of 16,214.36 in mid-afternoon trade. The index fell 117.02 points at the day's low of 16,037.60 in morning trade, its lowest level since 12 January 2012. The S&P CNX Nifty was up 7 points or 0.16% to 4,973.90, its highest closing level since 8 December 2011. The index hit a high of 4,880.80 in intraday trade. The index hit a low of 4,827.05 in intraday trade, its lowest level since 12 January 2012. The BSE Mid-Cap index fell 0.03% and underperformed the Sensex. The BSE Small-Cap index rose 0.33% and outperformed the Sensex.
The market breadth turned positive from negative in late trade. On BSE, 1,406 shares gained and 1,348 shares declined and a total of 109 shares were unchanged. The breadth moved positive and negative zone during the last one hour or so of trade. Among the 30-member Sensex pack, 15 gained and an equal number of shares declined.
FOR TODAY:  THOUGH NIFTY IS IN BULLISH ZONE BUT IT SEEMS THAT NIFTY IS FACING RESISTANCE AROUND 4900-4910. AT THE SAME TIME, 4800 SEEMS TO BE VERY STRONG SUPPORT. SO, WATCH 4824/4800 ON THE DOWNSIDE AND 4910/4930 ON THE UPSIDE. TODAY'S TRADING RANGE WOULD BE PROBABLY 4800-4910.
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DISCLAIMER: NO HOLDING
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