Only ray of hope left in the market is that we may see a technical bounce back which may target Nifty 5100 levels. However technically charts are showing weak structure and Nifty remains in downtrend till it scales past 5160 level. If Nifty is able to move past 5035 level than we can see some positive move coming in the market. Thus aim is to look for sensible stock picking and undertaking intraday trading with sure shot hot stock of the day and enjoy the profit of the day. The overall market breadth as 1,796 stocks declined and 936 advanced on the BSE.
No doubt the illogical announcements without deliberation like GAAR has forced FIIs to flee to more lucrative markets like China, Thailand and Indonesia. Now they are finding investment in India at Sensex valuation of 13 also unjustifiable. So now only hope is that domestic institutions has to put on the shoes of FIIs and take Indian economy forward.
Share Trading Tips for Beginners
Just to provide a quick tip that in times of high inflation and uncertainity FMCG segment stocks like ITC, HIndunilever, Dabur, Marico etc are the best bet because irrespective of any kind of recession in the market, consumption of items will take place in the households which will result in continous uptrend in FMCG stocks irrespective of the state of the market and economy.
Support and Resistances for the Day
Jackpot Tip Profit
|Tip||2830 (Rs 50,000 Trading)|
Intraday Trading Tips
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|NSE Nifty 50 Stocks||Made Money (Rs)|
Strong future shares at National stock exchange
Asian Paint, Bharat Forg, Ranbaxy, Ruchi Soya, Hind Uni Lvr, TCS, Titan, Cipla, BPCL & IOC.
Weak future stocks at NSE
NCC, GVKPIL, HDIL, Rolta, Central Bank, Unitech, GMR Infra, JP Associate, LITL & Sintex.
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