Thursday, December 22, 2011

Trading strategy for 22nd December 2011

The market after sharp gap up opening yesterday on the back of strong global cues moved firmly for the major part of the session when around late afternoon it witnessed fresh all round buying coupled with short covering in front line stocks which pulled up the indices to session high. The Sensex gained 3.4 per cent or 510 points at 15685 to its highest close since August 29, ending its 5-day losingstreak while the Nifty ended 3.3 per cent up at 4,693. Readers are advised to trade with caution as investor confidence remained frayed over slowing domestic growth and policy inaction by the government.