It is a cheers time as we have a remarkable day today with NSE and BSE scaling new highs and that was despite weak global cues. Nifty surged 98 points to close at 5577, the highest close after 18th Jan 2008 and it will put a new lease of life in the market. Reliance the big daddy came back with vengeance and closed with gains of 3% gains. Capital goods, IT and metal stocks led the gainers, while realty, healthcare, banking and auto stocks came under selling pressure, limiting the upside. Actually masses will be using this rally to exit out of the market and thus a consolidation will remain in the market. The 30-share BSE Sensex ended off the day's high at 18,645, up about 85 points or half a percent, while the broader Nifty rose by 27 points or 0.5% to 5,604. Thus if you also want to be a part of the rally and want to know the Indian share to buy than do make use of the opportunity as it knocks only once on the door.
Analysis of derivative segment data shows that 15.80 lakh shares have been added in open interest and same has happened with a decrease in the cost of carry and it shows that short position is continuing to be built at higher levels. On the options front, implied volatilities increased by 150–300 basis points, indicating uncertainty will continue to persist at higher levels. On the flip side; Telenor investor demanding a quit from the telecom JV is a negative news for Unitech.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5570 -5540 | 5675 |
| Sensex | 18570 | 18885 |
| Stock | Profit (Rs) |
| Tip | 2855 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 37560 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 55765 |
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Apollo Tyre, KFA, Ruchi Soya, BEML, Godrej Ind, Ambuja Cement, ACC, DISH TV, Ultra Cem & Guj Mineral.
Weak future stocks at Bombay Stock Exchange
Hero Honda, Chennai Petro, Sesa Goa, KS Oils, Orbit Corp, Hind Const, Punj Lloyd, RCOM, Nagar Cont & Ivrcl Infra.
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