Sensex shoot up 232.05 points in the first day of last week of the year, but with very low volume. Telecom, tech, banks FMCG and capital goods stocks supported the markt in this rally. Positive Macro data helped the Sensex to close near 16000 mark. Sensex was at 15970.75 (+232.05), Nifty at 4779 (+65) and Nifty Fut was at 4783 (+62.40) on close. Another positive factor which influenced the market was approval US congress a two month extension of a payroll tax cut on Friday, which lead to a rally of about 1% in the US market.
This low volume in the rally is a concern for Indian market. This is a clear indication that there is not support from small retailers and investors. Hence every upmove should be watched carefully and a fall in the market can't be ruled out sooner or later. But the expectation is that the market may move upward to end the year in positive.
US and European Markets closed positive yesterday and most of the Asian Markets also opened positive except Nikkei 225.
Nifty watch for 27.12.11
Nifty may open gap down this morning and may face stiff resistance at 4803 and strong support at 4640
Other support levels for Nifty are 4662/4680/4702/4740
Nifty may try to hit 4785/4820/4834 today. On downside below 4640 Nifty may go upto 4603/4590/4564 today.
Past Performance
Day's (26.12.11) Performance
1. Buy Reliance 800 CE 4.70-5.00 TGT 8/10/12/15 SL 1.50 - holding (call was given on 23.12.11)
2. Buy TATAMOTORS 190 CE at 1.60-2.00 tgt 3.40/5 SL 0.50 - holding (call was given on 23.12.11)
Day's (23.12.11) Performance
1. Buy Sbin fut at 1671 SL 1660 TGT 1680/1690 - Booked full profit at 1680 - Profit of Rs. 1125/-
2. JSW Steel Buy above 517.75 TGT 523/528 Sl 509 - Booked full profit at 523 - Profit of Rs. 5.25 per share
3. Buy Reliance 800 CE 4.70-5.00 TGT 8/10/12/15 SL 1.50 - holding
4. Buy TATAMOTORS 190 CE at 1.60-2.00 tgt 3.40/5 SL 0.50 - holding
5. Sell Axis bank Fut below 870 TGT 863/855 Sl 877 - trigger price not met - exited at cost
6. Sell Nifty Fut below 4743 SL 4761 TGT 4728/4711 - trigger price not met - exited at cost
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