A reason of joy as it is the last day of the year and Nifty is in the bull trend and it has touched the magic figure of 6100 as told yesterday in our post related to Nifty intraday analysis. Now we are likely to witness Nifty hitting the levels of 6131 and thereafter a fresh leg of up move will commence in the market. Oil stocks are in the lime light as we had suggested yesterday the scenario when crude hits the level of $110 per barrel. Govt will compensate oil cos for fuel subsidy burden and this is going to be good for these companies health and stock price too. India and Iran officials from the respective central banks will meet on Friday as Iran seeks to rescue trade worth around $12 billion a year, at risk from rising US pressure on countries trading with Iran to abandon all dealings. Thus we need to be more self reliant in this aspect as it can make or break the economies. Last but not least we feel proud of the fact that India is likely to outpace China By 2030 and these words come from the horses mouth none other than Mark Mobius, Executive Chairman, Templeton Asset Management.
Financial Scam
Shivraj Puri, the alleged mastermind behind Rs 300 crore Citibank fraud in the Gurgaon branch was on Thursday remanded to 7 days' police custody. Hero group is also suffering in this open eye Citibank fraud case. The image of company or a financial bank is definitely damaged, however these big organisations are able to tide over the crisis by virtue of their inherent strengths. No doubt citibank is good and one odd aberration can not make it a bad bank and only thing one has to remember is that one should not be lured due to greed factor.
On the IPO front Punjab & Sind Bank has debutted with 22% premium and globally Silver has hit new high of Rs 46,459/kg. we had all these gone by past years had advised our readers to go for gold and silver. However to make daily money from stocks and shares or commodities one should follow intraday tips and make money like professionals everyday. Sgx Nifty provides a cool tool for tracking the way market is going to respond the coming morning.
The Indian market has shown a good movement today and as a net result we saw the market closing firmly for a second straight session on Thursday, and it shrugged off data showing rising food inflation and mixed global cues. Second-line stocks also received good buying support on the last day of December series derivative contracts. Among large-caps, consumer durable, realty, IT and metal stocks led the market higher, while oil/gas and banking stocks closed on a mixed note. The benchmark 30-share Sensex moved in a range of 20,274-20,411 before closing up 133 points or 0.66% at 20,389, while the broader Nifty index ended at 6101.85, up 41.50 points, or 0.68%. The point to note is that food inflation has accelerated to 10-week high as prices of vegetables, fruits, cereals and protein-based products continued to escalate and earlier it was onion and now other green vegetables have caught with it. Even Mother dairy in Delhi has gone and enhanced the prices. The growth of infrastructure sector slowed to its lowest this fiscal, due to contraction in production of cement and petroleum refinery products.
Derivative Segment future Prediction : The January series started the month with an open interest of Rs34,567 crore in stock futures and Rs12,036 crore in Nifty futures. On the options front, good amount of activity was seen in Put writing in 5800 strike and 6300 Call, indicating this broad range for the January series. Overall implied volatility decreased from its recent peak and is hovering in the range of 14% to 17% pointing that buying may continue to emerge at lower levels.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 6000 | 6125 |
| Sensex | 20100 | 20478 |
| Stock | Profit (Rs) |
| Tip | 1430 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 37450 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 49665 |
Click Here to Subscribe for Daily NSE Future and Option Tips Strong future shares at National stock exchange
Praj Ind, Hexaware, Core Protect, Ruchi Soya, Ispat Ind, Aban, Hind Zinc, BalramPur Ch, Sterlite & Renuka.
Weak future stocks at NSE
Welcorp, Orbit Corp, IOC, Ashok Ley, SCI, Ibrealest, Dena Bank, UCO Bank, Hind Petro & Central Bank.
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