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Free Nifty Tips for Tomorrow for Intraday Trading : 07 May

Free Nifty tipsThe inevitable happened which was being waited with muted breath and finally intense selling came on  the concerns of our country considering a review of the Double Taxation Avoidance Treaty with Mauritius. This was a corroborated news as statement was made by none other than Minister of State for Finance S.S. Palanimanickam who stated that India is considering a review of the Double Taxation Avoidance Treaty with Mauritius to raise revenues.

Another concern which led to a blood bath in the market was due to a report by Macquarie where it has stated that RBI directives to meet Basel III regulations by banks could lead to an equity dilution of approx $30-35 billion over the next five years. This was a catastrophe news for the market and selling was seen in stock sensitive stocks including Banking sector. It is our humble request to Minister of State for Finance S.S. Palanimanickam that such sensitive statements should be made after market hours so that market has some reaction time to digest the information and traders do not press the panic button.

Now Nifty has gone below its 200 DMA and it is a matter of concern. Tomorrow we may see Nifty recovering t0 5140 levels or so depending on short covering and if this level is not maintained than we should be ready to see 5000-4850 levels. Thus it is the ideal time to trade in stock specific hot share of the day and close the trade same day to avoid being caught in a fight between bulls and bears.

Market breadth on the Bombay Stock Exchange was negative. Out of 2,913 shares traded, 2,067 shares declined while 746 shares advanced. Technically we are seeing a weak structure prevailing in the market. We need to be cautious as finance bill is going to be taken up for discussion in Lok Sabha tomorrow and is likely to be passed after a reply from Finance minister Pranab Mukherjee on)8 may 2012 which will mark completion of the three-stage passage of budget. Now a major area of concern is that GAAR is likely to be passed in the Finance bill and thus trend i going to be negative in forthcoming days.

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Support and Resistances for the Day

Indices Support Resistance
Nifty 5040-5015-5000-4850 5154-5200 

Jackpot Tip Profit

Stock Profit (Rs)
Tip 3360 (Rs 50,000 Trading)

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Intraday Trading Tips

Share Gains (Rs)
Tips 47670

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Future and Options Daily Paid Tips

NSE Nifty 50 Stocks Made Money (Rs)
Tipz 94770

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Strong future shares at National stock exchange

Voltas, Tech M, Bata India, Mcleodruss, Unitech, Uniphos, IVRCL Infra, Century Text, TCS & Asian Paint.

Weak future stocks  at NSE

IRB, LITL, Sintex, NCC, VIP Ind, HCC, Finan Tech, Delta Corp, JSW Energy & HDIL.

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