It was a good & firm start for a trading week. Nifty closed at 4851.30 (+141.25) and Sensex at 16167.13 (+471.70). Short covering in almost all the sectors and strong global cues led to this relief rally through out the day. The appreciation in Value of Indian Rupee by 0.63% to 51.92 against a dollar also another of the factor that helped the market to perform yesterday. CNX Midcap index was up 1.7% and BSE Small Cap index was up 1.8%.
We can expect a rally of 50-100 points today. As the fundamental issues are still the same there, but one should be careful on higher levels while trading.
Nifty Watch for 29.11.11
Strong Support for Nifty Future is 4804.90. Below this level Nifty may go down up to 4776/4748.70
Other Nifty supports are 4862.07/4839.18
Near firm Resistance for Nifty future is 4907.82. If it break with huge volume Nifty may hit 4942.24/4970.22/4998.30 today.
Nifty Fut Trading Tips for 29.11.11
Buy Nifty Dec 2011 Fut at 4839.50 SL 4803 TGT 4860/4881/4893/4905
Sell Nifty Dec 2011 Fut at 4802.65 SL 4840 TGT 4778/4750
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