It was a cool day for Indian market as global financial markets held the hand of Nifty and thus we saw a gap up opening. Metal, realty and banking sector stole the limelight. Hats off to China for loosening Yuan's de-facto peg to the US dollar over the weekend and it was one of the reasons for uptrend in the global markets. Asian stocks flared up on Yuan moves and metal stocks has most benefitted from it.
Another noticeable change is decrease in in open interest with an increase in the cost of carry and it shows that short covering is occurring in the market. Further analysis of option front data suggests that IV ( implied volatility) has increased marginally and it shows that uncertainty will prevail in market till June F&O contracts expiry and thus in such scenarios one can benefit with straddle strategy where one gains with with sharp spikes. Another positive news is that FII inflow has crossed Rs 5600 crore in June 2010. Yuan has been able to take shorts in for a surprise and thus we are likely to see Nifty touching 5400 levels before any profit booking arises, however cautiousness is the word as market is likely to peak by today.Global uncertainties is the order of the day and if you want to make money without any tension than definitely trade less and make use of our daily Sure Shot Intraday Tip which has the potential to make a millionaire out of all of you or may be next Rakesh Jhunjhunwala. Analysis of BSE advance-decline ratio stood at 1.8:1 which shows a rosy trend and market is in uptrend and thus make hay while the sun shines, however definitely use the opportunity to get out of dud or penny stocks and do not get married to the stocks which have been sold to you by your broker or by milkman advice. Divorce them.
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India is on the verge of becoming a global power by 2025 and only thing which is going to stop from achieving the same is redtapism and we have to just get through it and none in this world can match us as we are going to have the maximum working hands in the working segment and lesser older generation whereas vice versa is true in developed countries. As responsible citizens make use of Right to information act which is a mass weapon in your hand to take the govt to task. Make use of it to get thing moving else we will still remain second rate citizens in developed countries.
Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5335 | 5393-5417 |
| Sensex | 17825-17400-17150-17000 | 18356 |
| Stock | Profit (Rs) |
| Tip | 1585 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 34565 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 46840 |
Click Here to Subscribe for Daily NSE Future and Option Tips Strong future shares at National stock exchange
RCOM, BRFL, Rel Capital, LT, RNRL, LITL, Asian Paint, IOB, ICSA & Renuka.
Weak future stocks at Bombay Stock Exchange
Grasim, Patni, Educomp, BPCL, Petronet, DCHL, Pir Health, Tulip, Bharti Airtel & Mphasis
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