No doubt art is a form of investment, however one never knew that this kind of investment can even help a bank bail out of its financial crisis. As we can see in the enclosed image that a woman is looking at some of the works of art and mind it, these works of art are from the Bank of Ireland's collection that has been auctioned in Dublin, Ireland, Wednesday, Nov. 24, 2010. The Bank of Ireland has sold off more than 150 of its prized paintings and sculptures . The public auction was held on Wednesday evening at Dublin's historic Shelbourne Hotel, where Ireland's Constitution was drafted under the chairmanship of Michael Collins 88 years ago. As a net result Bank of Ireland has raised euro1.5 million ($2 million) in a sale of its prized Irish art works and these figures are official figures as these have been provided by the auctioneers, however it has also been stated that the money won't be used to shore up the troubled lender amid the country's economic gloom. Back home LIC housing Finance is under pressure due to loan scam and same has led to
a sell off in banking, realty and select heavyweight stocks. Pranab Mukherjee has asked banks to look at exposure to loan scam. India can be rightly called as a land of financial scams where each day a lid is blown off so that news papers and news channels have masala and gossip to keep its people alive and kicking in its job. PNB and Bank of India appears to be the most affected banks. BSE advance-decline ratio stood at 1:3. Market is technically week and it appears that Nifty 5500 level is in sight if Nifty 5725 level is not maintained. Our swing and delivery cash traders are flush with cash as we had got them out before the commencement of the market as holding cash is also a strategy. Make use of the tips being provided for intraday trading at bse and make money making a daily ritual.
Analysis of derivative segment data suggests that 20.25 lakh shares were added in open interest with a significant increase in the cost of carry, indicating long accumulation at lower levels. On the options front, the implied volatility increased by 500-600 basis points indicating that the market will remain volatile and that it is advisable to avoid over leveraged positions.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5842-5725-5640 | 5934 |
| Sensex | 19076 | 19692 |
| Stock | Profit (Rs) |
| Tip | 1785 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 35890 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 49860 |
Click Here to Subscribe for Daily NSE Future and Option Tips Strong future shares at National stock exchange
TVS Motor, S Kumars, Dish TV, Lupin, Crompton Greave, GE Shipping, Hero Honda, M&M, Bajaj Auto & Bata India.
Weak future stocks at Bombay Stock Exchange
Orbit Corp, HDIL, Unitech, LIC Housing, India Info, Jindal SWHL, RCOM, Ibrealest, Hind Const & OnMobile.
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