Stock Market Intraday Tips | Intraday Share Tips | 23 Jan

NSE BSE Market Trend

Reliance industries holds the key to the Indian stock market likely direction and thus Sensex has to move above the level of 9075 to show some strength in the market.  The target for BSE Sensex is 7850 on the down side and resistance exists at 8940-9075. NSE Nifty has a target  at 2686-2500 and the Nifty resistance exists at at 2758-2779. Market is likely to be lacklusture as Reliance is going to report dismal numbers and same can be attributed to steep crash in petroleum product prices and subsequent fall in demand for petrochemicals. According to ETIG estimates, RIL is likely to report a gross refining margin (GRM) of $10 per barrel and would report net profit of 2739 crore. However a dead cat bounce back is not ruled out in the market as the lower range of Nifty has shown a strong bounce.

Make Money with Free Stock Tips of India

HCL Tech profit is Rs 235, Reliance Infra returns were Rs 730, Balrampur chini profit was marginal Rs 85, remaining all stocks did not reach the entry price due to prevalent negative sentiment in the market. Have patience as Reliance is going to give the direction for the market.

Day traders Dream Tips

Buy Balrampur Chini>52.1,53.15,53.95,55 sl 49.9
Buy Cairn>155.5,156.9,157.85,160.5 sl 152.8
Buy Nalco>201.1,204.4,208 sl 198.6
Buy Neyveli Lignite>78.5,80.5,84
Sell Reliance<1088.8,1064,1050 sl 1093
Sell SBI<1079,1069,1050 sl 1087

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