Wonderful move in Nifty in today’s trading session. This is the biggest move in percentage since Aug-29-2011. Sensex recorded as the second best performer of the Global Indices today.
Good relief rally is seen in Nifty but is this a fresh buy or short-covering or just Option writers play as the series end is coming near by? Lets analyze Nifty in detail.
Also Read
Nifty moved 149 points and Sensex almost 510 points. Although Nifty opened with a gapup of 60 points but the actual move after that came only after 2.45 p.m. Generally I don’t get carried away with these kind of spikes in the last moment. It was a good short covering. They may change some technicalities of charts but not completely, based on the move when it was made.
Bank Nifty moved almost 4.5%. Most of the Nifty-50 shares ended with 5% up-move and banks leading the front. Reasons behind sharp move were that US housing starts for November at 1.5-year high, unexpected improvement in the German business sentiment index and better-than-expected Spanish bond auctions. Federal Reserve proposed new capital and liquidity rules for US banks, which would be rolled out in two phases.
You should also go through “Nifty Pivot support and resistance Levels”
One can reverse their positions above 4690 and 4720 in today’s session but the problem is the actual move happened very late, almost end of day. So at that time it is not suggestible to take fresh longs.
If Nifty gives again a gapup in tomorrow’s session then ensure 4720 as the support and ride on. If not gap-up then one can short Nifty on rise with 4720 as stop.
Trading Levels (spot) – 4640 << 4690 >> 4720 >> 4780 >> 4810
TOP GAINERS on 21-12-2011
| COMPANY NAME | HIGH | LOW | LAST PRICE | PRV CLOSE | CHANGE | % GAIN |
|---|---|---|---|---|---|---|
| ICICI Bank | 708.00 | 671.20 | 702.35 | 652.40 | 49.95 | 7.66 |
| Tata Power | 87.40 | 81.90 | 86.85 | 81.60 | 5.25 | 6.43 |
| Mah and Mah | 695.85 | 653.00 | 689.80 | 650.95 | 38.85 | 5.97 |
| Bharti Airtel | 344.50 | 327.35 | 341.50 | 322.85 | 18.65 | 5.78 |
| HDFC Bank | 439.00 | 418.00 | 435.30 | 414.10 | 21.20 | 5.12 |
| Maruti Suzuki | 966.60 | 927.00 | 961.00 | 914.35 | 46.65 | 5.10 |
| HDFC | 660.00 | 633.45 | 654.70 | 623.20 | 31.50 | 5.05 |
| Reliance | 754.00 | 722.50 | 747.25 | 713.55 | 33.70 | 4.72 |
| NTPC | 161.90 | 155.05 | 160.30 | 154.85 | 5.45 | 3.52 |
| COMPANY NAME | CURRENT PRICE | CHANGE % | 200 DMA |
|---|---|---|---|
| Kotak Mahindra | 464.75 | 2.19 | 454.79 |
| Varun Industrie | 231.75 | 1.77 | 227.73 |
| Cairn India | 320.35 | 1.7 | 314.98 |
| Zodiac JRD-MKJ | 23.45 | 1.69 | 23.06 |
| Wipro | 407.15 | 1.51 | 401.10 |
| Havells India | 382.65 | 1.09 | 378.53 |
| Andhra Sugar | 102 | 0.95 | 101.04 |
| TTK Prestige | 2,617.55 | 0.91 | 2,594.01 |
| LG Balakrishnan | 286.55 | 0.24 | 285.86 |
Nifty Daily Chart
No comments:
Post a Comment