Indian stock market is in a state of a dilemna and thus one has to be cautious. High risk high return category investors can undertake a straddle strategy in F&O segment as market can undertake a violent move in any side i.e. either up or down. Sensex support exists at 14650 with resistance at 15150-15580. Nifty has support at 4500 with resistance at 4560-4789.
Profit Analysis in Indian equity tips
Moser Baer crossed target 1 and gave profit of Rs 375, ABB crossed target 1 and target 2 and achieved a profit of Rs 1090,Opto circuit closed near target 1 and gave returns of Rs 190, Bank of India crossed target 1 and gave returns of Rs 770, Escorts was not to be traded as day open and high were the same, Bhushan steel was the star performer of the day having crossed all targets and in all gains for the day traders were Rs 4180. Lastly HCL tech was not to be traded as day high and open were the same.
Commodity Crude Update
Oil falls below $68 after seven strong days. Oil drops 4 pct on U.S. inventory rise, dollar gains.
Company news of importance
GVK Power to raise up to 25 bln rupees via QIP
Opto Circuits says to raise up to 4 bln rupees via QIP
Trade minister to seek more help for exporters
NSE BSE Intraday day Trading Tips
Buy Bhushan steel>731.1,739,745 sl 725 (can be held as delivery for 6 months; likely to hit 4 figure mark)
Buy Bank of India>342.1,345,349.5 sl 335
Buy GE shipping>311.1,315.9,319 sl 304
Buy India Info>161.1,164.9,168 sl 156.8
Buy Moser Baer>112.1,114.5,117 sl 107
Buy ABB>681.1,688,695 sl 675
Buy Max>211.1,216,219 sl 206.8
Srong Futures data India
Wel Guj, Tech M, Aban, Voltas, Skumar Sy NF, Suzlon, Bom Dyeing, NIIT Ltd, Alok Text & IVR Prime.
Weak Futures List
Lupin, Colpal, Glaxo, Dabur, Cipla, Sterlin Bio, Hind Uni Lvr, Dr. Reddy, Bharti Airtel & Sun Pharma.
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