It was an extremely volatile session of trade for Indian Market. Ups and downs was there for the most part of the day, but managed to close in green with the help of recovery in index heavy weights like Bharti Airtel, ONGC, RIL, ITC etc. Sensex closed at 16123.46 (+115.12), Nifty at 4832.05 (+26.95) and Nifty Dec Fut at 4840.15 (+23.40).
The GDP data was weak, but in line with the market expectations and European market was opened red made the market sentiments negative in intra-day. But Bharti Airtel outperformed and shoot up around 4%. Index heavy weights ONGC and Reliance climbed up around 3% and 1.5% respectively helped the market in close in green.
Nifty watch for 01.12.11
The day ahead may expect more volatile and selling may come in higher levels. For Nifty major resistance now is 4865.60, above which Nifty may try to hit 4895 and 4922 today. 4950 also possible if Nifty closes above 4865.60 today.
In downside major support for Nifty is placed at 4750.90. Below which Nifty may go down up to 4735 and 4713.
Buy on dips is the strategy for today
Nifty Trading Tips for 01.12.11
Buy Nifty Dec Fut at 4810 SL 4780 TGT 4843/4864.50/4895/4922
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