NSE and BSE were upbeat and of course are dancing to the tunes of global markets and today was a classic day where we were down initially, however recovered significantly due to European Central Bank three-month loan facility which elicited less of a reaction among euro-zone banks than had been anticipated as ECB lent 131.9 billion Euros versus expectation of 200 to 300 billion Euros.
as Moreover expectations about the upcoming first-quarter reporting season also gave some boost to the market. in India. Reliance Industries, ITC, and Maruti Suzuki & Reliance Communication were the stocks which were tracked violently and now if Reliance commences its up move only than we can see Nifty crossing 5400 mark. Now if one wants to be immune from global trends and still want to make good amount of money than the only mantra is to follow the NSE BSE Tips and make sure shot gains in the market. BSE advance-decline ratio stood at 1.3:1.
Analysis of derivative segment data suggests that more than 17.50 lakh shares have been added in open interest and same is with decrease in cost of carry and it suggests that short positions are built at higher levels and further analysis of option front data suggests that IV (implied volatility) has decreased marginally and it shows that buying is likely to emerge at lower levels with in a range of 5200-5250 and same will be good supports.
As the cartoon suggests nothing is bad and it is only perception which changes and life is all comparison. Thus do not lose hope and keep trying and you will be another Rakesh Jhunjhunwala of market provided you consider losses as a tuition fee and derive a lesson or two from it and apply it to your life time.
Support and Resistances for the Day
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Hind Petro, BPCL, GTL Infra, Aban Off shore, BRFL, RCOM, Dish TV, ONGC, TV-18 & RNRL
Weak future stocks at Bombay Stock Exchange
Patni, Sterling Biotech, Grasim, Pir Health, Jindal Steel, Sesa Goa, Mphasis, India Cement, Sail & Andhra Bank.
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