Indian markets eagerly await the RBI Credit Policy as it has the tendency to suck in cash out of Indian financial market and probably these right policies have helped India remain free from recession. RBI is positive on Indian economy and it sees an 8.5% GDP growth for FY'11 and adds that the SLR cut is to release sizeable primary liquidity. RBI will inject Rs 4800 crore via OMO in the next one month. On the positive side; RBI has left key rates unchanged in its credit policy. However one need not be happy for long as any upside to G3 economic growth and sharp increase in oil and global commodity prices would present upside risks to our inflation and thus RBI would be forced to lift policy rates in its January 2011 monetary policy.
On the market front for online day trading; one can be positive for the market till the time Nifty is able to sustain itself above 5849 level and if it does so than rally has a limit upto 6050 where it encounters the fresh resistance. Market is likely to trade with a sideways bias. Make sure that you do not take advice from people who provide hearsay information as it is deliberately provided to trap gullible traders. Do not fall to the so called sms which says that “Thank you for taking our free trial and your free trial commences wef so and so date. It is a deliberate plot where providers providing free stock tips; buys the stocks first and than offloads by selling to gullible investors in garb of providing free tips. However to make daily money from Indian stock markets one can trade with closed eyes with risk free. Thus to get rid of such free sms, make use of the best share tips which perform 100% irrespective of the condition in the market and mind it these are paid tips and quality comes at a price as we also need to pay to get secret information which is only available to select few individuals in the market.
Derivative Segment future Prediction
Analysis of F&O data suggests that 6.20 lakh shares got reduced in open interest with a significant increase in the cost of carry, indicating that the last hour of buying was due to short covering. On the options front, implied volatility decreased by 200-300 basis points, indicating buying may continue to emerge at lower levels and that 5850 is a good support level.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5850 | 6050 |
| Sensex | 19550 | 20217 |
| Stock | Profit (Rs) |
| Tip | 1540 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 36780 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 48665 |
Click Here to Subscribe for Daily NSE Future and Option Tips Strong future shares at National stock exchange
Ispat Ind, Hexaware, Polaris, Wipro, TCS, Aurobindo Ph, Mphasis, Infosys, Tisco & HCL Tech.
Weak future stocks at NSE
India Info, Escorts, Welcorp, LIC Housing, KFA, Ibrealest, Pantaloon R, SCI, Orbit Corp & UCO Bank.
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Stock Market News of Significance
ONGC has allowed the split of share and for each share, there would be a bonus share. The company has also announced the dividend of Rs 32 for each share.
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