Depreciation of Rupee again against dollar and profit taking at higher levels led Nifty to close at 5039.15 (-11), Sensex at 16805.33 (-41.50) and Nifty Dec Fut at 5072.75 (-8.45). Through out the day market traded with negative, but covered most of the losses in last one hour of trade. CNX MidCap Index closed with 0.01% loss while the BSE Small Cap Index was 0.01% up. Reliance, ICICI bank ITC etc dragged the market down.
Approval of Government of Rs. 1000 cr capital support to Bank of India and French & German Government's joint plan to tackle euro zone debit crises will positively effect market in coming days. But the outcome of European Union Summit on 9th of Dec 2011 and proposed cut of repo and reverse repo ratio by RBI beofre 16th of Dec 2011 will have a positive impact on Indian market.
Market is in a consoidating mood and expected to move sidewise
Nifty Watch for 07.12.11
Nifty fut has immediate Resistance at 5090. Above this mark Nifty fut may try hit 5107, 5122 and 5133
Immediate support for Nifty fut is at 5054. Below 5054 bears may drag the Nifty Fut to 5037, 5022 and 5008
Nifty Trading Tip for 07.12.11
Buy Nifty Dec Fut at ???? SL ???? TGT ???? - For subscribers only
Share/Future/Options Trading Tips for 07.12.11
Past Performance
Today's (05.12.11) Performance
1. Buy Nifty 4900 PE (DEC 2011) at 60-65 SL 45.75 TGT 83/97 - call open - made a high of 74
2. Sell L & T Dec 2011 Fut at 1320 SL 1351 TGT 1290/1271/1263 - call closed at 1315- made a low of 1301 (profit - Rs. 1250/-)
3. Buy Infy above 2704 SL 2691 TGT 2714/2725/2740 - 1st & 2nd TGT achieved - call closed at 2714 -(Profit Rs. 10/- per share)
4. Buy SBIN Fut at 1870-1875 TGT 1897.60/1910 SL 1854.75 - 1st TGT achieved & made a high of 1906 - call open (profit 4500/-)
5. Buy Nifty Dec Fut at 5051.10 SL 5007 TGT 5107/5120/5133 - made a high of 5086 - call open
