Bulls and bears have collided with each other and a tussle is going on and time will tell whether other has an upper hand or not. We had correctly predicted yesterday a dead cat bounce back and same happened on strong IIP data. Industrial output in October is back to double-digit growth on healthy performance in automobile, electronic goods and power. The key support of Nifty 5700 has been respected and thus one can again keep the fingers crossed as market is not showing any decisive trend but is moving on day today news. Whenever market falls, it is a good opportunity to acquire stocks at sale. Technically Nifty is in downtrend and one has to trade with caution in mind and one can go long for investment once it closes above 6030-6070. Make use of the day trading techniques and make money like professionals as the secret of success lies in trading less but trading with a precision edge and same lies with our best research backed tips. As an advise we can dish out following words which will be of a great help for all the traders and we state that they are advised not to bottom fish and wait for the resumption of the higher-top higher-bottom formation on the daily chart before calling it end to the downtrend. Economic events to watch out include Trade Balance from China, IIP from India and Trade Balance and University of Michigan confidence index from the US. Nifty is trading in a sideways mode and one can make money by strictly following thee given support and resistances in the table below.
Analysis of derivative segment suggests that 17.7 Lakh have reduced in open interest and same is backed by reduction in cost of carry. Options front has seen reduction in implied volatility which shows some more upmove may be seen in the market.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5730-5700 | 5965-6020-6091 |
| Sensex | 18886 | 19900-20032-20050-20295 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | 2510 (Rs 50,000 Trading) |
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| Share | Gains (Rs) |
| Tips | 45640 |
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| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 67680 |
Click Here to Subscribe for Daily NSE Future and Option Tips Strong future shares at National stock exchange
Federal bank, Gail, ACC, REC and KFA (Top interest gainers)
Weak future stocks at Bombay Stock Exchange
Jindal saw, KS oil, Axis bank, IRB infra (these are top open interest losers)
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