Indian Share Market was traded firm though out the day with positive bias. But unable to sustain at higher levels due to profit booking and u turn by the government on FDI in retail sector. Market closed with moderate gains, Nifty was at 5062.60 (+23.45), Sensex was at 1687706 (+71.73) and Nifty Dec Fut was at 5079.80 (+14.20). CNX Midcap Index closed with 0.02% gain and BSE Small Cap Index was up 0.02% .
Some analysts feels that market is witnessing year end rally and may expected to carry over to 5300 level. But yesterday's market performance gives a clean indication that the road to 5300 mark may not be smooth. There are lot of positive news expected by the market this month. But if we forget the news and read yesterday's performance chart, we can see that there is a weakness in the market at higher levels and it may lead market to a 150-250 points correction.
Nifty Watch for 8.12.11
Today Nifty is expected to trade in negative. But advise to be cautious while trading in this kind of market due to high volatility.
Immediate Resistance for Nifty Fut is 5090, if it is taken out for an up move, it may face strong resistance at 5141.33. Above 5141.33 Nifty Fut may touch 5159.25
Nifty Fut has strong support at 5035.79, below it may go down up to 5017.87 and 4999.95 today
Nifty Trading Tips for 08.12.11
Share Trading Tips for 08.12.11
Buy L & T fut at 1330-1336 TGT 1350 SL 1313 - call was given on 07.12.11 and holding
Day's (07.12.11) Performance
1. Buy SBIN Fut at 1870/1875 TGT 1897.60/1910 SL 1854.75 - call was given on 06.12.11 and both the target achieved on 07.12.11 (Profit Rs. 5000/-)
2. Buy Nifty Dec Fut at 5051.10 SL 5007 TGT 5107/5120/5133 - call was given on 06.12.11 and 1st and 2 nd Target achieved and booked profit at 5128 on 07.12.11 (profit Rs. 3845/-)
3. Buy Nifty 4900 Dec PE at 60-65 SL 47 TGT 84 - call was given on 05.12.11 and Stop loss hit on 07.12.11 (loss Rs. 900/-)
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