Nifty is able to breeze past the level of 5230 which was advocated by us as a “Laxman Rekha” for the market to have some sort of bullish semblance in the market. Till the time Nifty is able to sustain itself above the level of 5200, we are in a slow and steady bullish mode. Thus make use of the opportunity to trade with hot stock of the day. The overall market breadth was marginally positive as 1,218 stocks advanced against 1,116 declining ones, on the BSE. Now if Nifty is able to zip past 5260 with volumes than we are heading for 5300 levels. Technically mixed signals are being generated by virtue of analysis of momentum oscillators and the moving averages.
However the way Indian govt agencies are formulating the retroactive taxation policies followed by downgrading of our economy and to add salt to our wounds even Mark Mobius has spoken against our country. If we analyse these developments we can arrive at a conclusion that it will be hard for the bulls to maintain the uptrend and Nifty remains in down trend from medium term perspective. However who knows that good sense prevails in govt circles and S&P downgrade might wake up govt from its slumber else real action in Indian economy will only take place after general elections of 2014. Do remember to check Mark Mobius views on India as being given in below related posts at the base of this post.
Support and Resistances for the Day
Jackpot Tip Profit
|Tip||1130 (Rs 50,000 Trading)|
Intraday Trading Tips
Future and Options Daily Paid Tips
|NSE Nifty 50 Stocks||Made Money (Rs)|
Strong future shares at National stock exchange
VIP Ind, Yes Bank, Pantaloon R, Voltas, MC Dowell, Tech M, Bata India, Mcleodruss, Unitech & Uniphos.
Weak future stocks at NSE
IGL, LITL, Polaris, Idea, India Cement, HCC, JSW Energy, India Info, Bhel & Petronet.
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