As we had described yesterday that Nifty will take support at 5200 level and it has acted as a ditto support at the said level and free share market tips for the day can be checked here.
Now tomorrow we are going to see if the support at 200 day moving average is held or not and if that goes, than we are going to see Nifty falling to the levels of 5160-5135 levels. Bears have an upper hand as select momentum oscillators have turned bearish on the daily charts and thus one can exit longs if the level of 5200 is broken with volumes.
In such scenario ideal is to trade with hot share of the day and close the trade with profit by going short or long as per the prevailing direction of he market. The market breadth ended weak on the Bombay Stock Exchange with 1,801 declining and 989 shares advancing.
Support and Resistances for the Day
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Strong future shares at National stock exchange
VIP Ind, Yes Bank, Voltas, Tech M, Bata India, Mcleodruss, Unitech, Uniphos, Ranbaxy & IVRCL Infra.
Weak future stocks at NSE
LITL, Rel Capital, Infy, Idea, Suzlon, JSW Energy, Adanient, Bhel, HCC & OnMobile.
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