Market closed with a negative note on a volatile day of trade. This was mainly due to profit booking on higher levels. Nifty was at 4805.10 (-46.20) and Sensex was at 16008.34 (-158.79) on closing of the day. CNX Mid cap index was 0.4% down and BSE small cap Index was down 0.2%.
Significant thing is that both the Indexes are just above their psychological as well as technical support levels. Nifty managed to hold on to the 4800 mark despite losing 46 points. The Sensex lost 160 points, but clinch to held 16000 mark. Buying at low level is expected for the days ahead. Experts feels that another upside of 100-200 points will be there for Nifty and it may test 4950 by a couple of weeks ahead. Some others expects there will be 5-7% of correction in the market from present level due to weak global and domestic factors.
Nifty watch for 30.11.11
Major support for Nifty Fut is 4758.50 Below this level Nifty may go down up to 4736.85/4715
Other immediate support for Nifty is 4803/4794.25/4785.33.
Major Resistance level for Nifty is 4865.35 Above this level Nifty may try to hit 4887.17/4909
Other immediate resistance for Nifty is 4820.89/4829.75/4838.65
Nifty Trading Tips for 30.11.11
Buy Nifty Dec 2011 Fut at 4785 SL 4758 TGT 4818.65/4827.15/4836.75
Sell Nifty Dec 2011 Fut at 4757.50 SL 4786 TGT 4738/4716
Share/Future/Options Trading Tips for 30.11.11
Buy Hindunilvr Dec 2011 420 CE at 2 SL 1 TGT 3.20/4/5.50
Visit: http://niftywatch.0adz.com
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