Nifty is showing weakness due to poor fourth quarter (qtr) GDP numbers and thus revival appears to be a distant dream as stiff opposition stands in form of resistance at 4975-5000 mark. As we can see that market breadth was weak with 1,416 declines and 1,184 losers on the BSE; however all good intraday traders make money both in bull market as well as in bearish market as stock specific opportunities in form of Hot Stocks always abound in the market.
As we can see that fourth qtr. GDP data i.e. Q4 FY12 showed most dismal figures and thus now all eyes will be on the RBI to propel growth by undertaking at least a rate cut of a quarter percentage. The rate cut may be taken up on 18 June 2012. However RBI has a fine balancing act to perform and it may be a wishful thinking. We are equally disappointed with the figures as it could not have had got worse. Globally Asian markets are also under pressure courtesy Euro zone crisis.
Support and Resistances for the Day
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|Tip||1230 (Rs 50,000 Trading)|
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|NSE Nifty 50 Stocks||Made Money (Rs)|
Strong future shares at National stock exchange
S Kumars, Jubilant Food, Asian Paint, South Bank, Dena Bank, Divis Lab, Adani Ports, GMDCLTD, Bombay Dyeing & Godrej Ind
Weak future stocks at NSE
NCC, IVRCL Infra, Orchid Chem, Tata Motors, OnMobile, Suzlon, Nagar Oil, ALBK, MC Dowell & BEML.
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