The dead cat bounce has occurred from the strong support of 5270 and bulls will be in smiles again as balance has tilted in their favour. The daily trend of nifty remains in Up trend and as a free advice one need to wait and watch and let Nifty trade either above 5380 or below 5270 with volumes for the real trend to emerge. Short covering will emerge above 5380 levels which can take Nifty to new heights in short term time frame.
Analysis of derivatives data shows that past 3-4 days have witnessed fresh call writing was seen at 5300 strike price which means that 5300 is going to be a good support for the market as call writing at that level means that market participants do not believe that Nifty will slide below this level. Thus now is the ideal opportunity to trade with Sure Jackpot Tips and make money like alpha class traders in the world markets.
The overall breadth was positive as 1,758 stocks advanced while 1,155 stocks declined. Are you ready to make money from the stock market than do not delay further and take a plunge.
Auto Sector Update
Auto stocks were in limelight today after the Society of Indian Automobile Manufacturers (SIAM) reported that car sales in the country grew 8.28% to 1,55,763 units in June 2012 amid tough market conditions. According to figures released by the SIAM today domestic car sales stood at 1,43,851 units in the same month last year. The BSE auto index jumped 1.6% or 152 points to close at 9,533. This means that auto manufacturers like Tata Motors and Mahindra & Mahindra will remain in lime light. As it is M&M is positive till the time it sustains above the level of 700 mark.
Support and Resistances for the Day
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Strong future shares at National stock exchange
Punjlloyd, 3I Infotech, Jindal SWHL, BF Utililties, TVS Motors, KTK Bank, STR Tech, Bajaj Hind, Balram Chin & Tulip.
Weak future stocks at NSE
KFA, DCHL, Asian Paint, Wipro, BEML, Ruchi Soya, Cairn, Hexaware, JP Power & Welcorp.
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