Nifty Tips | Sensex Tip to help you trade better
As we have seen Indian market shed most of its early gains despite Nifty kissing the levels of 5000 for the first time since 23 Mar 2008. Next week is a short week due to a holidays and it being expiry week. Reliance Industries was the biggest defaulter for bringing the index down due to company selling 1 crore shares from the trust. Now time has come to be cautious as mood at the Bombay Stock Exchange was negative with 1223 advances against 1574 declines and image for NSE Advance decline ratio is as appended below. Moreover even implied volatility on option front has increased marginally by around 100-200 basis points, which means that selling will emerge on higher levels.
Thus the crux of the whole writeup is to suggest that now one should not go long in any stock till the time a clear break out is seen past the level of 5011 level. One will be not surprised if profit booking sets in the market.
| Index | Support | Resistance |
| Sensex | 16425 | 17075 |
| Nifty | 4899-4849 | 5015-5161 |
Hot Profitable Stock Tips of India Result Analysis for 17 Sep 2009
| Stock | Profit (Rs) for 100 Shares Day Trading |
| Reliance | Not Traded as Stock Price Did Not reach Entry Level. |
| Federal Bank | Not Traded as Day High and Open were Same |
| Infosys | 3790 |
| Bank of India | 2350 (Closed with 5.98% gains) |
| Tata Motors | 865 |
| PNB | Not Traded as Day High and Open were Same. |
| Punj Llyod | 925 |
| Bajaj Hindustan | Not Traded as Stock Price Did Not reach Entry Level. |
| Sterlite | 865 |
| TCS | 1600 |
| Orchid | 1070 |
| Ranbaxy | 590 |
| HCl Tech | 2890 ( Closed with 6.58% gains) |
| SBI | 3200 |
| Bharat Forge | 1470 |
Please note that number of recommendations being given is more as market is presently in a breakout mode and at times a number of tips may not reach the entry level due to some of these tips opening gap up or gap down.
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