The Indian stock market is probably looking to start the new year on positive note and probably that is the reason we saw shares ending higher on Friday and January F&O series has started on a firm note. However it needs to be seen that how US Fiscal cliff is going to be handled as US Senate is meeting today despite being a Sunday to discuss the modalities that how fiscal cliff crisis can be averted.
Not withstanding the fiscal cliff Indian market will be bullish if Nifty is able to cross above the level of 5940 with volumes and the level of 5860 is protected on the lower side. Till level of 5860 is protected; the daily trend of Nifty will remain uptrend. The last closing saw overall market breadth beings strong as 1,514 stocks advanced while 1,371 stocks declined on the BSE and thus now is the right time to use the sure stock of the day and make money like professionals.
Support and Resistances for the Day
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Strong future shares at National stock exchange
Pantaloon, Arvind Mill, Bank Of India, Colpal, NHPC, Federal Bank, MRF, Union Bank, Suzlon & Idea.
Weak future stocks at NSE
Hexaware, Divis Lab, JP Power, IRB, Bharat Forge, IGL, Titan, Power Grid, R Power & Voltas.
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This article was first published on Indian-Share-Tips.Com on 30 Dec 2012.