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Indian Stock Market Tips for Day Trading | 29 May

Daily National Stock Exchange and Bombay stock Exchange Update

Indian great F&O story intraday volatlity finishes with Expiry this week and now we can hope to see some less volatility in the market. It was a historic day as market posted biggest F&O gains in the series. The Sensex level to be watched is 14080 with its support at 13950 with resistance at 14500. Nifty support exists at 4285 with resistance at 4390.

International News Affecting Stock markets
Globally US and South Korea have raised their alert levels after North Korea has told that it is scrapping its truce with the South Korea. Stocks, bonds fall on Western govt debt fears.

National News affecting shares of India
(a) Congress will be deciding on speaker by Saturday.
(b) Mahindra net up, expects to outperform sector.
(c) EPFO proposes 8.5 pct interest for FY10.
(d) GMR Infra consortium wins highway project.
(e) Visa Steel sees FY10 rev, margin growth at 15-20 percent.
(f) SAIL Q4 net falls on lower prices.
(g) Siemens to invest 2.8 bln rupees in Gujarat plant.
(h) Hotel Leela lowers room rentals in key cities.

Rakesh Jhunjhunwala views on Market
He is of the opinion that the stocks are not expensive yet.

Crude and gold commodity update
As suggested crude sustaining above $60 per barrel is marching towards $65 per barrel. The bullishness stems from Saudi Arabia statements related to crude touching $150 in 2 years time frame. Israel has shown a finger to US by saying that construction work will continue in West Bank settlements, despite a US call to desist from such activity. These two instances are going to cause destabilising effect in the region and net effect will be seen on the stock markets. OPEC Sec Gen said that U.S. oil demand is picking up. Indian gold demand is dull as buyers are looking for a fall in the prices.

Stock market Tips of India Analysis
Punj Llyod gave a profit of Rs 540 and crossed both the targets, Infosys crossed target no 1 and gave profit of rs 2390, IDEA did not reach the entry price and thus trade not executed, Reliance Infra closed near target 1 giving a profit of Rs 1090 for every 100 shares traded as per the given tip. Simplex infra was not to be traded as stock opened gap up at 392 and touched a high of 399.

Imp note related to a gap up or gap down intraday Trading
A point here is to be noted that gap up or gap down price has to be seen with judicious wisdom. I will quote the example of Infosys trading for today where the stock opened gap down at 1517 levels or so and later on it stabilised near 1600 levels. I personally traded in this stock and it did not take me a moment to realise that the gap down opening at 1517 levels is a level which is an aberration and has been intentionally undertaken to confuse a retail investor so that he sells out of the market in case holding the stock. The stock stabilised with in 1-2 minutes of trading as one can manipulate this stock only for a short duration and therafter it traded for a considerable peiod around 1600 levels. I waited like a 'Shikari' for this stock to cross our suggested level of Rs 1605.1. I placed the order in the system and moment it crossed the level of 1605.1, my trade was activated (this figure is placed in stop loss column in intraday online trading Portal) and bought 1000 shares for intraday trading. Now stock moved steadily and crossed our 1619 target where I booked 50% profit and kept the balance with me and now for the balance 500 shares I placed a stop loss at 1518.6 and during the intraday volatility my stop profit level was hit and thus balance 500 shares were also sold out. Thus I could make a cool profit of approx Rs 13500 from the stock as I kept the patience and traded as per the given levels. Thus in day trading one has to use the calculated wisdom to make money. Thereafter I left the screen as I had earned more than sufficient for the day. Remember once you make sufficient profit during day exit the screen and there is no point banging the head against the screen and if you do so; than at the end of the day you may find that the profit has vaporised and one is looming large with a loss.

Intrady day trading Tips
Buy Punj Llyod>190.1,192.7,195.9 sl 188.8 (Indian stock market tip for delivery with stop loss as 178)
Buy Unitech>77.25,78.65,79.65,80.9 sl 75.5
Buy Suzlon>91.1,92.6,93.9 sl 89
Buy Indiabulls real estate>230.5,233.9,239.9 sl 225
Buy Seamec>148.1,149.9,151.9 sl 144.1
Buy RNRL>81.1,82.3,83.3,84.6 sl 77.9

Strong futures stock tip NSE BSE
Htmt Global, Ivrcl Infra, Redington,Brigade, Century Tex JP Hydro, Gitanjali, Parsvnath,Alok Text & Ansal Infra.

Weak Future stocks tip NSE BSE
Glaxo, Sun Pharma, Dabur, Bharti Airtel, Tata Tea, Hind Uni Lvr, Sterlin Bio, Cipla, Colpal & ITC.
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