Stock Market Guide with Daily Trading Tips | 09 Feb

Stock Market information

The market is not showing a clear direction and is trading directionless. Wait and watch is the best approach to tackle this type of market and it is difficult to make money in a sideways market. If you intend, you can take a break also as you are not going to lose much by not trading. However since Nifty is above 2800 levels, thus it is showing a positive bias for the market. This positive bias is due to drop in inflation number for the week ended 24th Jan 2009 to 5.07% from 5.64% of the previous week. NSE Nifty support exists at 2749 and its resistance exists at 2901. BSE Sensex index has support at 9225 and resistance at 9400-9551. One need to watch Reliance stock as it is only holding the market. The US stock market too are happy by virtue of cheerfulness over the government forthcoming bank bailout plan and better-than-expected monthly sales from Wal-Mart Stores.

Indian Business News

Satyam has finally got its new CEO with A S Murty being named for the top job.  A S Murty has been with company for 15 years and was currently heading the company's global delivery unit. He has tied up for Rs  600 Crore loan with a few banks. Two more appointments in form of Mr  Homi Khusrokhan, a Tata group veteran, and chartered accountant Partho Datta have been made to help the company in management and finance areas as special advisers. Satyam has also appointed Wachtell, Lipton, Rozen and Katz as its lawyers to address class-action lawsuits in the US and also said that its existing lawyers Latham & Watkins would continue to support it in its dialogue with the US market regulator SEC.

Reason Non Providing Tips on Friday

Due to our short trip to Mata Vaishno Devi, the free tips were not provided.

NSE BSE tips for strong futures

WWIL, Jindal Steel, Grasim, GE Ship, GT Offshore, Neyveli Lig, SAIL, Polaris, Balram Chini, ACC.

Avoid buying stocks with weak futures trend

DLF, Edu Comp, Aban, Wel Guj, Punj Lloyd, Divis Lab, GDL, Gitanjali, Tulip, Auro Pharma.

Stock Research for day trading

Buy HCL tech>126.1,128.8,129.25,132 sl 123.8
Buy ACC>540.1,543,544.7,549 sl 536.8
Buy Akruti>913.1,924,928 sl 906.8
Buy BEL>856.1,859.9,867.9 sl 852.8
Buy Reliance>1351.1,1364,1380 sl 1343

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