The Indian market has shown a third day negative close and same can be attributed to the weak opening of the European markets for the third straight session on renewed worries about the balance sheets of U.S. banks and apprehensions about stretched valuations weighed on market movement. One should exit all longs if Nifty level of 4585 is broken and keep Nifty support of 4548 and resistance at 4650 under watch because if the level of 4548 is also broken than Nifty will tank to 4464 level. High risk traders must exit if Sensex level of 14675 is broken. Sensex support exists at 15321 with resistance at 15620.
US Market Update and its Impact on Indian Market
Intraday Profit analysis
Renuka Sugars hit 52 week high and gave a profit of Rs 990, Maruti also hit 52 week high and gave a profit of Rs 1790, Reliance capital tip was again star tip of the day where gains were Rs 2580, Praj, Satyam and United Phosphorus tips did not reach near the entry price and thus day traders did not enter in these tips.
Click Here to Show encrypted text containing Day Trading Tips and Future Option tips to Subscribers
There is hidden text here. If you are not a Subscriber than Click below to avail of Subscription offers to be able to make money daily at BSEand NSE. Click at below Subscribe Icon.
Click Here to Get Free Stock market Tips in Email
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
