"TRADING IDEA FOR FRIDAY (18.02.2011)"

The BSE 30-share Sensex rose 205.92 points or 1.13% to 18,506.82, its highest closing level since 27 January 2011. The index rose 231.71 points at the day's high of 18,532.61 in late trade. The Sensex lost 67.11 points at the day's low of 18,233.79 in morning trade.
The S&P CNX Nifty rose 64.75 points or 1.18% to 5,546.45, its highest closing level since 27 January 2011. The Nifty hit high of 5,553 in late trade. The BSE Mid-Cap index rose 0.91% and the BSE Small-Cap index rose 0.94%. Both these indices underperfomed the Sensex.
The market breadth, indicating the health of the market, was strong. On BSE, 1681 shares advanced while 1126 shares declined and a total of 179 shares remained unchanged. Among the 30-member Sensex pack, 19 rose while the rest fell.
BSE clocked turnover of Rs 3302 crore higher than Rs 3094.03 crore on Wednesday, 16 February 2011. FOR DETAILS, "READ HERE"
FOR TECHNICALS, "READ HERE"
FOR TODAY: Yesterday, Nifty spot hits 5550 and closed around that. EU markets ended flat and US market closed in green and scales new multi year high. Asian markets are trading positive except Shanghai which is flat (minor down). SGX Nifty trading around 5566.50, up 16.50 (at 8.45 am) indicating our Nifty may open around/above 5560 which was a resistance area on yesterday. If and only if, Nifty trade above 5560 with volume for the first fifteen minutes, we may see 5588-5590/5600 and 5624 levels today. On the downside, if breaks 5550 level, it may touch 5522/5500 level.
WATCH EDUCOMP, KALINDEE RAIL AND LARSEN

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