Indian market is showing a dead cat bouince back which generally occurs after correction. However do not take the same on face value and one has to move with specific action everyday as Nifty is technically in downtrend. As a net result of market being oversold we saw buying coming in the later half of the day and as a result markets closed with handsome gains. Market is likely to trade tomorrow with a sideways bias and one need to be watchineg carefully level of Nifty 5750 which will determine future trend for market. Do check out nifty tips and make merry in the market with sure shot gains and trade like professionals.
Initial Public Offer Update
Indian market is flush with IPOs and recent IPO which is in progress in the market is Manganese Ore India Ltd (MOIL). Post success of biggest IPO of India in form of Coal India, disinvestment ministry has already tasted success on bourses. Manganese Ore India Ltd (MOIL) is a mini navratna company and to make it people to understand whether to go for subscription or not, please consider this aspect that Manganese Ore India Ltd (MOIL) is India’s largest producer of manganese ore. It fulfils about 50% of the total requirement of manganese ore in India.The price band for the initial public offering has been fixed at Rs. 345- Rs. 370. A further discount of 5% on the final issue price will be given to retail investors and MOIL’s employees. Thus, the stock’s offer price of Rs. 356 for retail investors is at a discount of around 11-20% to its MRP.
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Considering MOIL’s near monopoly position and huge demand for manganese ore, this is a good long term bet for retail investors. Combining this with the attractive valuation, we advice retail investors to consider subscribing to the issue, from a long term perspective. Remember the issue is closing on 01 Dec and make use of the cash to get going in the primary market and give luck a chance to get succeeded by getting the allotment. Do remember to make use of the ASBA facility extended by the banks where one need to pay only once the shares have been alloted. The below screenshot will help one to understand the ASBA. Do remember to check the bank for ASBA for download and make use of this best facility for applying for shares in primary market.
Lavasa slams environment ministry as it says that its all construction is as per the given clearances.
Money Matters Financial Services, whose top officials have been arrested by the CBI in the housing finance racket, today said it had invested proceeds from last month's share sale in bank fixed deposits which would not be withdrawn without the board's approval. Money Matters Financial Services is the kingpin behind LIC hsg finance racket.
Analysis of derivative segment data suggests that 3.50 lakh shares were added in open interest with a significant decrease in the cost of carry, indicating short accumulation at higher levels. On the options front, the implied volatility decreased marginally, indicating buying may continue to emerge at lower levels. Market breadth was neutral with 1486 advances and 1485 declines.
Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5725 | 5850-5900 |
| Sensex | 19165 | 19465-19770 |
| Stock | Profit (Rs) |
| Tip | 2140 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 37555 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 47860 |
Click Here to Subscribe for Daily NSE Future and Option Tips Strong future shares at National stock exchange
Lupin, Indus Ind Bank, Chambal Fert, Dr Reddy, GE Shipping, Dish TV, Hero Honda, TCS, Bharti Artl & TVS Motors.
Weak future stocks at Bombay Stock Exchange
Orbit Corp, Hind Const, LIC Housing, HDIL, India Info, Ibrealest, Unitech, RCOM, Finan Tech & DCHL.
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Stock of the day:
Bharti Airtel today launched a partnership project with E-Mitra in Rajasthan to make available its products as well as the facility of bill payment at e-mitra kiosks in the state. We must say it is a very wise and sharp strategy adopted by the company to keep the competition at bay.We have bee long recommending people to hold a part of their portfolio in gold and now it becomes all the more easier with Financial Technologies-promoted National Spot Exchange (NSEL) planning to introduce an e-gold conversion facility. This will allow buyers to purchase physical gold in the electronic format, store it in a demat account and convert it into jewellery as and when they wish. While opening the account is free, there is an annual maintenance fee of Rs 300. In addition, when you transact, there is a brokerage fee of 0.5 per cent.
Corruption Pangs: We as Indian citizens feel pained when Ratan Tata has made a statement like that he regrets being in telecom business as he feels that policies in telecom sector are being shaped ata a drop of hat to favour specific individuals.
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