As we had stated yesterday that Nifty and Sensex are trading with a negative bias and same was seen effectively as selling in blue chip stocks has been seen due to profit booking and FIIs have also started taking out money from Indian market. In coming days all eyes are on 03 Nov RBI rate meeting and we all know they will adopt a hawkish stand to keep the inflation monster under control. However if you want to make money from stock market than ideally day trading tips is the best bet for you as one has an option to use the leverage the margin in their favour backed by our high reliability of sources and accurate technical analysis. Nifty has been making lower lows from its last closing and thus trend is pointing to a downward trend unless Nifty can bounce above the level of 5900. A glitter of hope emerges in the market if Nifty is able to scale above the level of 5821 ads market is now showing signs of typical sell mode and we have shown you the same with Nifty chart every passing day and hope all free readers have benefitted with the analysis. However as of now we can see a sharp reaction if Nifty emerges above 5820 level.
The NSE Nifty lost 45 points to 5,788 and the BSE Sensex slipped146 points to 19299. The today culprits for fall can be attributed to rising oil prices and food inflation coupled with F&O pressures. Out of 2991 stocks traded on the BSE, there were 1099 advancing stocks as against 1786 declines. The dalal street is facing a number of uncertain elements and these are playing in the minds of the investors’ and these uncertainties can be grouped as what will happen to interest rates, inflation and oil. As a net result we are seeing consolidation in the market and Nifty or Sensex is trading in a range and it is becoming difficult for the Nifty to move beyond that 5,900- 5,950 levels.
Global Markets Update
The European markets are mostly higher in afternoon trading Thursday, a day after the U.S. Federal Reserve decided to leave interest rates unchanged at near-zero levels. Positive earnings reports also influenced sentiment, as optimism about economic recovery encouraged risk appetite. Asia was in an upbeat mood after Wall Street cheered Ben Bernanke's statement that rates would remain unchanged. U.S. GDP at 1.8% in Q1 and jobless claims at 3-mth high will also have an impact on global economy.
Chinese Projections
IMF is upbeat on China where it has stated that China's economy will leapfrog U.S. by 2016; however analysts differ as they feel that the IMF calculation is based on "purchasing power parity" (PPP), which does not reflect real money. It relies on projecting China's stellar growth rates five years into the future. And it relies on Chinese official statistics, which are more than a little questionable as their energy demand is not commensurate to the growth being projected in public domain and at times it is articulated. However US can not ignore the IMF report IMF report and it should serve as a wakeup call to attack and address the many problems that threaten US country's global leadership.
China is not going to rest as about 2 years ago, China had proposed the replacing of US dollar with SDRs (Special Depository Receipts). The rate for the SDR would be a weighted average of a basket of global currencies and not just determined by the US dollar. However, this proposal was not accepted at the time. But China has not lost hope and is still trying alternative means to end the US dollar's reign. China has now gone ahead and established mutual lines of credit with countries in local currencies with the BRICS (Brazil, Russia, India, China and South Africa) countries with which it has huge amounts of trade. Through this these countries are able to minimize their foreign exchange risks. However, it also minimizes their dependence on US dollar for trade with China. For now it looks like China is successfully paving the path to end the dominion of US dollar in the years to come. Thus going by the efforts of China US can not ignore China which is definitely rising at a rate which can be a threat for the hegemony which is established by it and definitely US is a better bet for world stability than China.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5771-5750-5700 | 5820-5900 |
| Sensex | 19226-19120 | 19413 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | 1430 (Rs 50,000 Trading) |
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Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 26890 |
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Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 43870 |
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Strong future shares at National stock exchange
DCB, 3I Infotech, S Kumars, Alok Ind, MRPL, ABB, Jindal SWHL, ONGC, Praj Ind & JP Power.
Weak future stocks at NSE
Unitech, Orbit Corp, GVKPIL, IRB, Patni, PFC, RCOM, DLF, Bhel & Nat Aluminium
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