To be honest market is technically looking weak and one must exit out of market with profit and should trade in only specific stocks which should also be having a tinge of some news element. One may consider re-entering the market once Nifty is able to scale past its resistance of the level of 5550. Short term traders exit if the level of 5450 is broken and long term traders must exit if level of 5349 is broken on the lower side. Now it just needs how Reliance will drag the market. However do not blindly short it as Reliance has a tendency to bounce back from the levels of 960. BSE advance-decline ratio stood at 1:1.3. Stock specific action will be the order of the day and thus it makes sense to trade with best tips advice and make money like professionals. SBI and Tata Motors stole the limelight and we feel happy to announce that our swing trading subscribers were long in these counters. Now it is going to be action in financial institutes which can get banking licence and for that RBI has already got the mandate.
The cartoon suggests good old days when every thing was outsourced to India. However now we have to be ready as USA is going to make the outsourcing of the Jobs to Indians or to say to third world countries a difficult proposition and heat is being definitely felt. Obama is doing what is best for his country and it speaks for the cosmopolitan country which has chosen Obama as a President without considering for his origin.
Analysis of derivative segment data suggests that near about 1.90 lakh shares have been added in open interest and same is coupled with an increase in the cost of carry and it shows that fresh long position will be built at lower levels. Further analysis of option data suggests that IV ( implied volatility) has remained almost flat and it shows that positive bias will continue in market going forward.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5350-5288-5265 | 5450-5493 |
| Sensex | 17910-17650 | 18140-18315-18356 |
| Stock | Profit (Rs) |
| Tip | 1870 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 36780 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 47965 |
Click Here to Subscribe for Daily NSE Future and Option Tips Strong future shares at National stock exchange
Tata Motors, Petronet, Tata Comm, Bank Of India, UCO Bank, SBIN, Hind Petro, Allahabad Bank, IOB & Recltd.
Weak future stocks at Bombay Stock Exchange
ITC, RNRL, Nagar Const, Punj Lloyd, EKC, R Power, Moser Bear, ICSA, Reliance & Federal Bank.
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