The finance minister's statement about deferring GAAR provisions for a year provided a much needed boost to the markets and both benchmark indices closed with significant gains. Capital goods, consumer durables, power and metal were the best performers in Monday's session while FMCG, oil & gas and IT remained the biggest laggards. The Sensex closed at 16913, up 82 points from its previous close, and the Nifty shut shop at 5114, up 27 points. The CNX Midcap index was up 0.3% while the BSE Smallcap index also gained 0.3% in today's trade. The market breadth was positive with advances at 734 against declines of 681 on the NSE. The top Nifty gainers were BHEL, BPCL, L & T and DLF while the biggest losers included Cairn India, JP Associates, HCL Tech and Dr Reddy's.
For now, let us watch strong resistance at 5,210 (ahead of 5,370) and immediate support at 5,080 (ahead of 4,950) with no strong bias to provide directional break-out either way. The strategy is to trade the consolidation mode within the ``inner ring`` of 5,080-5,210 with overshoot limited to 4,950-5,370. Strategic investors can stay aside for 4,775-4,525 for the next round of 1,000 pip rally, on or before end July 2012. In the meanwhile, look for consolidation in DJIA at 12,850-13,350 with test/break either-way to set up good trading opportunity.
Now some gyan :
How to know the market would be red or gren on that particular reversal date !
Well the funda behind this reverrsal date is simple, one has to see a day before the particular date mentioned is that market green or red, if its red then it would be gren and if its green then it would be red.....
This is the simple funda which one has to follow, if one doesnt know how to follow this funda would really appreciate if they ignore the same......
Also the reversal dates are valid for that particular date only, its not that from that date till the next date it would be the same trend !!!
One request of many members I here by would also like to share the whole dates which have been calculated on the basis of Gannn Calender....
2012 Dates
March: 14, 18, 22, 27
April: 01, 06, 11, 16, 21, 26
May: 01, 07, 13, 19, 25, 31
June: 06, 12, 18, 25
One is requested to kindly ignore the dates coming across any festival or an weekend holiday like saturday and Sunday... I have not filteredd the dates have just calculated the dates for the whole year.
Hope they are of some use to any one
Wish you all good luck !!
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