Indian market is looking for signals from global market and as a net result we have seen a positive closing in the market. US mkt not affected by China is another decoupling theory and is good for the global mkt. Readers Digest US arm filing for bankruptcy, whicch means that the trouble is still not over. Indian market is showing a seesaw movement and thus as a net result, trading is becoming difficult. It is no doubt that Chinese market is going to have an impact on Indian market. Thus as an advise, all those who cannot bear volatility; need to stay away from the market. Technically market is looking weak. The market is likely to be in a narrow range for a few more sessions with bouts of voaltility. sensex figure of 14684 is very important. If this level breaks, one will see market collapsing. So keep this level under watch.
Adani Power IPO Update
As suggested yesterday Adani Power IPO could not sustain above the listing price and as a result fell below Rs 100 mark during the course of the day. The actual price of stock is Rs 90. Smart investors would have had booked the profit in the IPO.
Day trading tips profit
Profit for Bhushan steel is Rs 2600, Bonanza Profit for ONGC is Rs 2860 which is a windfall gain in the volatile market, gains for Punj Llyod is Rs 435, Cairn India made money Rs 640, Ranbaxy gave a marginal profit of Rs 90 for every hundred sharers traded as per the given tip. Reliance, BPCL tip did not reach the entry price and thus the tip was not put into action.
Expert stock tips to trade as a day Trader
Buy HDFC Bank>1482.1,1489.5,1494.5,1507 sl 1473
Buy Bhushan steel> 973.1, 979, 988, 997 stoploss 955 (if you all remember, this stock was recommended near Rs 600 level and was advised to hold as its ultimate target was Rs 1000 and same has been achieved today as stock touched a high of Rs 998.
Buy ONGC> 1185.1, 1189, 1196 stoploss 1178
Buy BPCL>517.1,522.9,529 stop loss 508.7
Buy Cairn>242.1,244.4,247 sl 238
Buy CESC>326.1,329.8,332.9,339 sl 324.9
Buy 3iInfotech>84.7,85.7,87,89 sl 82.9
National stock exchange strong futures advice
Purva, Bhushan Steel, FSL, Patni, Aurobindo Pharma, Jindal Saw, Polaris Software, Tulip, Aditya Birla Nuvo & Oracle Fin Serv
National stock exchange weak futures advice
Chambal Fert, ACC Ltd, RCom, Suzlon, Nagarjuna Fert, India Cements, Rel.Capital, Dabut India, Bank Of India & Essar Oil.
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