Buying from FII made Indian Market to close in green. Sensex closed at a level of 2 week high at 16483.45 (+359.99), Nifty at 4936.85 (+104.80) and Nifty Dec Fut at 4957.15 (+124.80). Central bank's move to reduce the cost of the dollar pushed all the global markets higher. Sharp aapreciation in the Rupee too helped our market to close in green. All sectoral indexex closed positive barring Phama Stocks. In intra-day Sensex touched a high of 16718 but can't hold the levels due to profit taking at higher levels.
Nifty watch for 02.12.11
The trading range for Nifty is 4750 to 5050. There will be stiff resistance for Nifty Future at 5023 and 5045. Below 4913 market may touch 4860/4845 and 4812.
One should book profit in higher levels
Nifty Trading Tips for 02.12.11
Sell Nifty Dec Fut at 5010 SL 5027 TGT 4967/4949
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