The Nifty is holding to its 200 DMA which is good for the market in coming days and we will see it going on another leg of upmove provided the resect for Nifty 5669 is maintained and this level is not breached. Till than all is well at BSE and NSE and people can rejoice the recovery which is for real. If we analyse today market activity we find that market hovered in negative territory for most of the day, the benchmark 30-share Sensex witnessed a sudden surge in late trading before paring some gains and ending up 68 points or 0.36% at 19,047, with 17 of its stocks advancing. Likewise, the 50-share Nifty recouped all its early loss to end 21 points or 0.36% higher at 5,712.
While it is hard to pinpoint a reason for the sudden surge, a decline in food inflation for a second consecutive week and the retreat in global commodity prices, which augur well for the Indian economy could have spurred short covering near support levels.The banking stocks namely Yes bank and Kotak Mahindra Bank saw a good upmove by virtue of reporting strong Q3 earnings.
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Derivative Segment future Prediction: Analysis of derivative data suggests that 1.80 lakh shares were reduced in open interest with a substantial increase in the cost of carry, indicating that the aggressive rally in the second half of today’s session was due to short covering. On the options front, implied volatility increased marginally, indicating that the volatility will continue to persist going forward.
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Support and Resistances for the Day
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Strong future shares at National stock exchange
HCL Tech,Orchid Chem,TV18,Ispat Ind, BRFL,Jindal Saw,Hexaware,TCS,Polaris & Mphasis.
Weak future stocks at NSE
IVRCL Infra,Jet Airways,Zeel,Orbit Corp,Ster Tech,Pantaloon,Rel Media,HDIL,Patel Engg & Jindal Saw.
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If you like our post than do not forget to refer our free daily tips blog India to your friends and colleagues. You can find more info related to the share markets of India by searching with the following keywords on the site by using the Google tool as given on the financial blog cum website.
While it is hard to pinpoint a reason for the sudden surge, a decline in food inflation for a second consecutive week and the retreat in global commodity prices, which augur well for the Indian economy could have spurred short covering near support levels.The banking stocks namely Yes bank and Kotak Mahindra Bank saw a good upmove by virtue of reporting strong Q3 earnings.
Are you ready to make money in stock market and if answer is yes than head straightaway for intraday tips and make money like professionals as the amount of adrenalin which day trading makes rush, none other business can ever dare come near to that and it is addictive in nature. You feel as if something is missing in life in its absence. If we have a look at the picture, money is all waiting to be yours in share market, provided one can conquer the emotions as fight is with in ourselves which is keeping us away from making money from the stock market.Derivative Segment future Prediction: Analysis of derivative data suggests that 1.80 lakh shares were reduced in open interest with a substantial increase in the cost of carry, indicating that the aggressive rally in the second half of today’s session was due to short covering. On the options front, implied volatility increased marginally, indicating that the volatility will continue to persist going forward.
Click Here to Get Free Stock Market Tips in Email
Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5670 | 5733-5800-5836 |
| Sensex | 18900 | 19350-19500 |
| Stock | Profit (Rs) |
| Tip | 1340 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 37980 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 57540 |
Strong future shares at National stock exchange
HCL Tech,Orchid Chem,TV18,Ispat Ind, BRFL,Jindal Saw,Hexaware,TCS,Polaris & Mphasis.
Weak future stocks at NSE
IVRCL Infra,Jet Airways,Zeel,Orbit Corp,Ster Tech,Pantaloon,Rel Media,HDIL,Patel Engg & Jindal Saw.
Click Here to Get Free Future and Option Tips in Email
If you like our post than do not forget to refer our free daily tips blog India to your friends and colleagues. You can find more info related to the share markets of India by searching with the following keywords on the site by using the Google tool as given on the financial blog cum website.
