Now Nifty has gone technically in downtrend and one must adopt a cautious approach and should use only hot share tips as same is only going to help you get into stock specific action and make money in the stock market. Make use of the support and resistances given and still violent reactions is not ruled out as we are closing into the futures expiry week. India's 30-share Sensex is trading choppily in a narrow range with a negative bias. Coal India IPO has been subscribed to an extent of 11.4 times and same is courtesy QIB support. Govt is now going to stop Vedanta project and it is going to send a negative signal to the global fraternity. Moreover if you are looking for a home loan than without delay hop in the bandwagon as SBI has raised base rate by 10 bps to 7.6% . One can straightaway take a loan from State bank of Patiala which is providing home loan at fixed 8% for first year and 9% for 2nd and 3rd year and thereafter it becomes floating rate which is PLR-4.75%.
Make sure that you do not become an addict trader who loses the focus and all good things in life. Make sure that trading is to help you shore up your financial positions and not add to your stress levels. Thus trade with the calls which gets completed in a shorter time frame like our Jackpot calls which finishes generally in first 2 hours itself.
Metal stocks saw downward pressure in short time period due to fall in commodities on account of China raising deposit and lending rates. However these are short term blips.
Analysis of derivative segment data suggests that 8.85 lakh shares were added in open interest with a significant increase in the cost of carry, indicating long accumulation. On the options front, implied volatility decreased marginally, indicating buying may continue to persist at lower levels. BSE advance-decline ratio stood at 1:1.7.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5930-5900 | 6160-6200 |
| Sensex | 19770 | 20225-20500 |
| Stock | Profit (Rs) |
| Tip | 1345 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 31260 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 47865 |
Orchid Chem, ABG Ship, Biocon, Federal Bank, Vijaya Bank, Ibrealest, Canara Bank, IDBI, Chambal Fert & Bhushan Steel.
Weak future stocks at NSE
GVKPIL, Bharti Airtel, Finan Tech, GMR Infra, TV-18, IVRCL Infra, Praj Ind, BGR Energy, Aban Off shore & Welcorp.
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