As we had stated boldly that real move in Nifty will take place above 4900 and same happened with a vengeance and now we can see Nifty hitting the mark of 5045-5100 with 5000 on being crossed will act as a psychological support. This sharp move is attributable to the anticipated rate cut by RBI in its forthcoming meet by market participants.
Not to worry as till the time the level of Nifty 4868 is held we are likely to see some positive movement in the market. The market breadth in BSE remained healthy with 1,849 advancing and 894 shares declining and thus it is ideal time to make use of the available opportunity by trading with sure tip of the day and make money like real professional traders. However undertone will remain bearish till the time Nifty crossed 5100 mark with volumes as today FIIs have used the rise to cover their short positions but no fresh buying has been undertaken by them.
Global markets are also playing pied piper for Indian markets as Germany and European Union are working out a bailout plan for Spain. We wish that financial crisis of Greece and Spain are resolved so that the economies can get going Northwards on a fast-track.
Support and Resistances for the Day
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Strong future shares at National stock exchange
S Kumar, Dena Bank, Pantaloon R, LT, SBI, Mcleodruss, Jet Airways, UCO Bank, IDFC & Orient Bank.
Weak future stocks at NSE
OnMobile, BEML, Suzlon, Educomp, Orchid Chem, Tata Motors, NCC, Nagar Oil, Adani Power & IVRCL Infra.
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