Nifty is at a make or break level as we had suggested yesterday that market is looking tired and would require some feed to get going forward as bull run will commence only above 5330-5380 levels. It is likely that Nifty will trade in a range between 5334-5150 and cards will open up once the level of 5270 is broken on closing basis.
However not to worry as daily trend of Nifty is still in Up trend and this will remain so till the time the level of Nifty 5270 is protected failing which it can slide to the levels of 5200. Thus make use of the right time to trade with Best shares and make money like ninja stock traders who trade with precise information and intelligence. Traders can be bullish on Nifty on its closing above the level of 5293-5330. However RSI and CCI indicate a different picture which suggests a slide to 5250 is imminent.
The overall breadth was negative as 1,770 stocks declined while 1,097 stocks advanced. Now it appears that Intelligence Bureau (IB) has started performing its task as it has named a number of companies including Goenka diamonds for illegal manipulation which drove share prices through the creation of false volumes.
China and India have entered more marked economic slowdowns while growth continues to moderate in most major industrial economies, the OECD said on Monday. The Paris-based economic think-tank said its composite leading indicator for China, which provides a measure of future economic activity, eased to 99.2 in May from 99.4 in April, slipping further away from the long-term average of 100. For India, the indicator fell to 97.8 from 98.0, also below the long-term average of 100. "Composite leading indicators ... point to an easing of economic activity in most major OECD economies and a more marked slowdown in most major non-OECD economies," the Organisation for Economic Cooperation and Development.
Support and Resistances for the Day
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Strong future shares at National stock exchange
BF Utilities, TVS Motor, Jindal SWHL, Tulip, Triveni, Renuka, Baja Hind, Dish TV, 3I Infotech & Jain Irrigation.
Weak future stocks at NSE
KFA, OnMobile, DCHL, Cairn, Welcorp, Asian Paint, Hexaware, Wipro, JP Power & Bajaj Auto.
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