Market at close

Both Sensex & Nifty ends with substantial gain. Sensex closed at 16939 up 154 points, Nifty spot 5098 up 48 points. Market can't hold it's earlier gains & also can't break it's major resistance of 5160-5174. Market breadth was negative, while CNX Mid cap index & BSE Small cap index was down. Advances with 588 against declines 836 (NSE). Banking & Capital goods pulled down the Nifty, but IT, Auto & Oil & gas sector supported.
High volatility may there for tomorrow as Nifty can't hold 5100 mark & also due to F & O settlement.
The experts like Mr. Atul Suri, says that there may be a short-term rally of 10 - 15% may be there in Nifty, but any negative news may re-test 4700 mark.
The other thing keep in mind is the monetary policy review meeting is scheduled for tomorrow.
Many economists & bankers is expecting the rate hike will be of 25 paise, some others expects that there will be a slight chance of RBI may take pausing in tomorrows review meeting due to contrasting demand.

Trading tip for 25.10.11

Nifty:-

Buy at/above 5112.25 TGT 5129.50/5147/5161 SL 5093.75

Sell at/below 5094.39 TGT 5077/5059/5045 SL 5113.85