Bears are keeping their fingers crossed and waiting for Nifty to fall below 5425-5400 level as technically Nifty has formed a Doji pattern and thus it makes sense to follow the support and resistance with utmost precision. One must make sure that one exit all longs if the level of 5349 is broken. If Nifty is able to sustain itself above the level of 5425, than it can target the levels of 5500. The point to note is that BSE advance-decline ratio has stood at 1:1.1. Thus if you want to make daily money from online trading, than one can not afford to miss the researched equity tips for NSE and BSE which rock every day irrespective of the going in the market.
Analysis of derivative segment data suggests that 4.65 lakh shares have been reduced in open interest and same is coupled with a decrease in the cost of carry and it shows that profit booking is being undertaken by long traders. Deep analysis of option data shows that implied volatility (IV) is near its low of 13% indicating an up tick may be seen in IV and market may correct up to 5400 levels.
The stock market cartoon depicts that we have to be wary of rumour mongering as such type of an exercise can be easily done in stocks with small capital float. Thus as a thumb rule avoid trading in stocks which have less than daily 1 Lakh trading volume and do not go by those sms guys providing free sms and asking gullible investors to buy X stock in hordes as these gullible investors in order to save a few rupees to avoid paying to genuine tips providers are playing into hands of free tips providers through sms.
The sectors which are likely to outperform Sensex is Automobiles, banking and sector likely to perform better as compared to Sensex is Pharmaceuticals and not much appreciation is likely in sugar sector as the sector is heading towards a supply glut due to a significant improvement in the production levels and also because of the Government's unwillingness to re-impose customs duty on sugar imports. However still Renuka sugar is a good bet with Stop loss as 59.
It is surprising that Kuwait is not backing pressure against RIM as for the time being it has no intention of stopping BlackBerry services and will be talking to the device's manufacturer about moral and security concerns. Please remember that we all have to collectively work and keep a vigilant eye to thwart the attempt of anti social elements and terrorists to stop them for undertaking their nefarious activities. We do not see why Research in motion can not share data with legally constituted govts of the countries. We must remember that security is not an individual responsibility and each one of us has to act as eyes and ears for the security forces to beat the evil forces at its design. Thus we take an opportunity to call on all of you to be watchful this Independence day and let us not have any untoward incident which is caused due to any unnatural activity of anti social elements. Remember, you are the watchdog of nation.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5425-5350 | 5493-5511 |
| Sensex | 18100-17650 | 18356 |
| Stock | Profit (Rs) |
| Tip | 1675 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 36750 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 48760 |
Click Here to Subscribe for Daily NSE Future and Option Tips Strong future shares at National stock exchange
Petronet, IOB, Allahabad Bank, MLL, Dish TV, Bank Of India, HCL Tech, Tata Motors, Hind Zinc & UCO Bank
Weak future stocks at Bombay Stock Exchange
RNRL, Patni, Nagarjuna Const, Punj Lloyd, EKC, R Power, TV-18, RCOM, Maruti & Federal Bank.
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