Short covering in the last half an hour of trading and expectation of cut in CRR pushed the market up and helped to close both benchmark indexes above their psychologically important levels of 16000 and 4800 respectively. Sensex was at 16002.51 +(132.16), Nifty at 4800.60 (+36) and Nifty Fut was at 4836.75 (+63.05). It made an end to 1007 points slide of the market in last 3 consecutive sessions. Index heavy weight Reliance rallied 2% yesterday lead the show. CNX Midcap Index lost 0.3% and BSE Small Cap Index was down 0.7% on close.
Today market is expecting inflation data and may trade in negative on opening. Volatility may be there for most part of the day. Most of the European Markets were closed in red, but US market in green. SGX Nifty is down 46 points and trading at 4790.
Nifty Watch for 14.4.2011
Below 4847 will support bears only. Below this level, Nifty may go down up to 4776/4752 and 4724.
Above 4847 Nifty may hit 4865 and 4896. If Nifty crosses above 4896 it may go up to 4922 and 4947
Day's (13.4.2011) Performance
1. Buy SBIN Dec 2011 CE 2000 at 13-16 TGT 22/29/32 - No SL , loss only Rs. 1625/- - holding
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