One has to follow the support and resistance levels to a great extent and keep the fingers crossed that Nifty do not break the levels of 5349 on the lower side and we will have an upward going market. However market is lacking conviction at the present juncture and one must book partial profit and be in cash for the time being as at times holding cash is also a strategy. If you still feel that you have not been able to make money from stock market, than do consider using the India stock picks which are sure shot hot shot picks which will yield handsome gains daily in the market for the traders.
As the cartoon depicts too many cooks can spoil the broth and same holds true for holding stocks also and thus do not put all stocks in one basket, else one may find himself in an adverse position, in case the market turns against an individual and remember that market is supreme and do not let your ego fight with it.
Analysis of derivative segment data suggests that more than 5.10 lakh shares have been added in the open interest and same is accompanied by with decrease in the cost of carry and same shows that short positions are building up at higher levels which only corroborates the fact that upmove lacks conviction. Similar analysis of option front suggests that IC i.e. implied volatility is flat and it shows that buying will emerge at lower levels i.e. Nifty 5149 levels. In equity segment.BSE advance-decline ratio stood at 1:1.3.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5288-5350-5265 | 5493-5511 |
| Sensex | 17875 | 18356 |
| Stock | Profit (Rs) |
| Tip | 2390 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 38570 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 49765 |
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Orchid Chem, HCC, Andhra Bank, IOB, UCO Bank, Titan, Sun TV, Bank of India, Opto Circuits & PFC. Weak future stocks at Bombay Stock Exchange
RNRL, KS Oils, TV-18, Glaxo, Ambuja Cement, ICSA, ACC, Polaris, GE Shiping & Balrampur Chini.Click Here to Get Free Future and Option Tips in Email
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