It has been a dream run in the market however one may see a sense of caution as it is being anticipated that Reserve Bank of India (RBI) will raise key policy rates by a further 25 basis points at its mid-quarter review on 16 Sept. We expect the RBI to raise the reverse repo rate, its key borrowing rate, by at least 25 basis points to 4.75. We are of the opinion that RBI's policy of tightening in recent quarters is appropriate and probably this is the policy which has saved us from global meltdown.BSE advance-decline ratio stood at 1:2. If you do not want to be doing a tussle with stocks and wondering what to buy and still want to get best stock to buy ; than you are definitely at the right place as we always trade less but trade accurately and wisely.
We are glad that things are falling in place for common wealth games and we will not be let down in front of other foreign nations. We are fully confident that despite all scandals and corruption charges India will conduct the common wealth games in a befitting manner. A lot goes into a conduct and the man who wears the crown knows the pain.
Analysis of derivative segment data suggests that 10.95 lakh shares got reduced in open interest with an increase in the cost of carry indicating the rally was due to short covering. On the option front, implied volatility shot up by around 10-11% indicating uncertainty in the market. It is therefore advisable to remain cautious at higher levels and avoid over leveraged position.
Live Share Market: Well keep your tanks topped up as Petrol pumps are heading for a strike wef 20 Sep as talks with Oil Ministry to hike the rate of commission on fuel sales has not got through. It is another feather in the cap of India that we have become seventh largest vehicle producing nation in the world and that too six years ahead of the set target. HC has rejected L&T plea for stay on NTPC's bidding process and BHEL has won Rs 2,665 cr proj from Dainik Bhaskar Power. Ispat lenders may sell out to Tata Steel. Tata Steel to acquire 80% in New Millennium Cap proj and United Spirits is going to buy 54.7% stake in Pioneer Distilleries and who says art is not an investment as going by the Painter Raza's 'Bhartiya Samaroh' painting which has gone for Rs 4 Crore; one must make it a point to have an art pieces in its portfolios. It serves twin purposes, firstly decorate the area and secondly appreciate in price. So find an upcoming painter and get started from now on to own that marvellous piece. Ipo buzz states that Career Point is likely to fix IPO band at Rs 295-310 and Lavasa has filed for $425 mln IPO.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5700 | 5800 |
| Sensex | 19000 | 19350-19500 |
| Stock | Profit (Rs) |
| Tip | 1775 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 34560 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 48665 |
Godrej Ind, DISH TV, Canara Bank, Renuka, Opto Circuits, Ultra Cem, ICICI Bank, SBI, Ispat Ind & Tisco.
Weak future stocks at Bombay Stock Exchange
GSPL, Hero Honda KS Oils, Sesa Goa, Cairn India, RCOM, IFCI, EKC, GT Offshore & Orchid Chem.
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