Bulls must have heaved a sigh of relief seeing the market back in green as today it was stellar performance on Dalal Street as auto companies have shown a very healthy positive movement and results speak for it with healthy sales figures for the month of August being shown by Maruti Suzuki and TVS Motors which registered highest ever monthly sales. Overseas global markets to include European markets have been trading with strong gains of nearly 1.5% while US stock indices futures too were up about a percent ahead of data on construction spending, mortgage application and ISM Manufacturing. To sum it up we can see that Asian markets have started September month on positive note. Thus if you want to be ahead of other than make use of the guidance by market guru and making money daily will become your second habit.
Analysis of derivative segment data suggests that more than 6.90 lakh shares have been added in open interest with an increase in the cost of carry, which means that long position will be continued to be built at lower levels. On the options front, implied volatilities has decreased marginally and it shows that buying may continue to emerge at lower levels and that 5400 on the Nifty will act as a very good support level going forward. Thus good times prevail in the market till the time we are able to sustain above these levels.
Well, we are very positive on telecom stocks and one must make it a habit to accumulate all the leading stocks in this segment at every market down fall or crash. Look at the adjoining picture which speaks of the telecom segment in India. With a population of more than 125 Crores i.e. 1.25 Billion, we have reached a level of around 4 crore mobiles and thus the potential is vast and with the type of services being rolled out we will be able to download a 3 hour movie in less than a minute. One has to foresee the future to be able to understand the profitability of the companies and all those who are long term investors can not afford to miss on stocks like Bharti airtel, Reliance communication and Idea etc. The big brother Mukesh Ambani is likely to roll out in this sector in a big way and more action is going to be seen in this segment. Thus keep these stocks in portfolio as a systematic investment plan.
BSE advance-decline ratio stood at 3:1. However one need not get into euphoric mode with this data as market participants are viewing the GDP data thrown open by Govt with an eye of suspicion and now one has to be careful as technical indicators have given a downward trend indication for the Nifty and we can assume Nifty being in the down trend and the deep support for Nifty is likely to emerge at 5000 levels which can be a good level for value buying for all those who had missed the bus/rally this time in the market.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5288-5265 | 5393-5417 |
| Sensex | 17650 | 18356 |
| Stock | Profit (Rs) |
| Tip | 2240 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 3940 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 56750 |
Ruchi Soya, KFA, BPCL, Tata Comm, Mcdowell-N, Dish TV, UCO Bank, Indian Oil, Hind Petro & TV-18.
Weak future stocks at Bombay Stock Exchange
Suzlon, Hexaware Ltd, EKC, Chennai Petro, JP Associates, Tech Mahindra, KS Oils, Orbit Corp, Patel Eng & Hero Honda.
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