As we had stated yesterday that daily trend of Nifty remains down and same has been further corroborated by Nifty closing below 5300 level. Now Nifty will head for 5200 level unless it can move above 5300 level on the closing basis. Thus ideal for you is to trade in hot stock to buy for the day and make money like professionals.
The overall market breadth was negative as 1,844 stocks declined against 986 advancing ones, on the BSE. The election results are going to be announced and the results of state political battle will give direction to the market during the day. The markets have definitely turned volatile ahead of UP results and these results are scheduled to be announced tomorrow i.e. 06 Mar 2012. We can say that no clear short-term trend is visible on the charts, however bias is negative. The best strategy in such type of environment is ‘wait and watch’ and let the clear trend emerges as congress being in power in UP means that reforms continues and bull moves keep on going. If Samajwadi and Congress party Comes to Power in UP a Fresh Bull run starts in the market. So do not blindly short in the market.
Support and Resistances for the Day
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Strong future shares at National stock exchange
RPower, VIP Ind, Yes Bank, Welcorp, BGR Energy, Rel Infra, Voltas, Unitech, Rolta & Zeel.
Weak future stocks at NSE
MC Dowell, DLF, Dish TV, TVS Motor, OnMobile, Sintex, Educomp, Sintex, Gail & DCHL.
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