Nifty is in bullish grip till the time the level of 5300 is held which is going to be a rock solid support. Another leg in bull move will commence, once Nifty crosses the level of 5345 and we may see it heading for 5400 mark. The consolidation in Nifty is a good move to get going for the next leg in stock market and thus dips in market can be used for buying Nifty at lower levels. So, make money while the sun shines by using the hot stock of the day and make money like world class traders.
Just a quick note for the traders that Bollinger band helps us to know the likely direction of the stock market as in present scenario Nifty is near higher end of the Bollinger Band and this is going on for past 5 sessions and as a result we can see a breakout above 5330 level as above this level we are going to see Nifty in a bullish orbit. BSE market breadth was positive. Out of 3,012 shares traded, 1,946 shares advanced while 957 shares declined.
Have a look at the way govt policies affect the stock market as it happened yesterday when retail stocks rallied after a business daily reported that government may allow foreign investors to own majority stakes in domestic supermarkets and department stores after the Presidential elections on 19 July 2012.
Support and Resistances for the Day
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Strong future shares at National stock exchange
LITL, GMR Infra, Punjlloyd, Renuka, Bajaj Hind, STR Tech, JSW Ispat, HDIL, Aban & Dish TV.
Weak future stocks at NSE
OnMobile, Cairn, Tata Motors, Core Education, Tata MTR DVR, Ruchi Soya, Asian Paint, Yes Bank, Wipro & Glaxo.
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