Historically September month has brought lot of woes for the stock market traders and true to that opening has been poor in Indian mkt. Maximum declines in the index have been seen in |Sep month and thus one should go long only once Nifty crosses the level of 4800 for the target of 5000-5150. If Nifty remains below the level of 4590, than it is a clear case to avoid being long in the market and one must cut all the positions. Sensex support exists at 15470-15321 with resistance at 15685 and Nifty support exists at 4599-4545 with resistance at 4701.
Result Analysis of the Tips
Maruti was the star tip of the day which closed with more than 7.4% gains and thus subscribed day traders made Rs 12000, United Phosphorus made money Rs 530, Aban made money Rs 2060, Renuka gains were Rs 535, ONGC gains were Rs 540 as stock reversed direction near target one due to poor market sentiments. These gains were for 100 shares traded as per the given tip to the subscribers.
Interest Update
RBI is likely to focus on managing the government's borrowing program and thus interest rates are likely not to be tinkered further.
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