Now we have closed below 200 DMA in the market and thus we can see can of woes opening in the market. The daily trend of nifty is in down trend and thus as a strategy one can be light in the market unless Nifty crosses the level of 5800 on the upside. We are not seeing any strength in the market and same was explained through daily free Nifty annotated charts and thus we may see Nifty falling to the levels of 5540-5470; unless a magical technical bounce back occurs.
The net result of this hike is going to be that Home, auto and other loans are set to become costlier as a result of the rate hike, while savings bank deposits are likely to fetch more as interest rates on the money lying in savings bank accounts has been hiked by half a percentage point to 4%. The market breadth was weak with. Out of 2925 stocks traded on the BSE, there were a mere 711 advances as against 2101 declines. Well, get your vehicle tanks full as RBI has directed for an increase in diesel and petrol prices.
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Support and Resistances for the Day
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Strong future shares at National stock exchange
Exide Ind, Sintex Ind, Glaxo, Asian Paints, DCB, Hind Petro, Pir Health, Opto Circuit, ABB & Bata India.
Weak future stocks at NSE
IRB, Bank Of India, Patni, GVKPIL, IVRCL Infra, HDIL, IDFC, Unitech, Ibrealest & UCO Bank.
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As a nation we get united by Cricket and Saurav Ganguly also had ups and downs during his career and now he is again back in IPL as Pune Warriors Team Director Abhijit Sarkar has taken him for the team in lieu of Nehra who is nursing an injury. Saurav Ganguly was not sold during the IPL auction despite a modest base price of USD 400,000.
In India strike is also a King as Aviation minister stated that they have arrived at a compromise formula for Air India pilots and now ball is in their court. Even they are ready to reinstate the sacked Pilots. Thus it appears that Pilots are going to have a field day as every day Air India is losing Rs 60 Crore due to Pilots strike.
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