The Nifty has technically gone in down trend and will encounter support at 5900,5830 and 5630. Nifty may bounce back from these levels. The market sentiment has been weak as data showing a surge in food inflation in late December 2010 has again rekindled fears of interest rate hike by the Reserve Bank of India (RBI). Thus it appears that in short term Nifty 5830 level is achievable. As can be seen from the adjacent chart Nifty has been going down for past 5 days and same is on the rising volumes and thus it appears that one has to be ready for the Nifty 5830 level unless market executes a dead cat bounce.
Thus to get away from all these eventualities, one can straightaway go for our single stock tip for the day which lets you know the secret of the Indian share to buy for the day and make money making a daily habit irrespective of the movement in market. We can definitely say that one can make money for living by day trading. In coming days ahead keep watch of Q3 results which will start with Infosys and SAIL on 13 Jan 2011 followed by HDFC on 14 Jan 2011.
Derivative Segment future Prediction: Analysis of derivative data suggests that 6.94 lakh shares were added in open interest with a significant decrease in the cost of carry, indicating short accumulation at every rise. On the options front, implied volatility increased by 200-300 basis points, indicating that the market will remain uncertain going forward.
Globally one need to monitor the UK - BoE interest decision, EMU - ECB rate decision and Germany consumer price index. Indian market is more or less mving in tandem with global financial decisions.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5830-5798 | 5938-6000-6031 |
| Sensex | 19522 | 20000 |
| Stock | Profit (Rs) |
| Tip | The tip was not initiated as market opened gap down and thus recommended entry price was not reached and thus trade not executed. |
| Share | Gains (Rs) |
| Tips | 32350 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 46740 |
Click Here to Subscribe for Daily NSE Future and Option Tips Strong future shares at National stock exchange
Jindal Saw, Hexaware, Bata India, Praj Ind, Hind Zinc, Glaxo , Sun Pharma, Ispat Ind, Tata Power & HCL Tech.
Weak future stocks at NSE
Indian Bank, Yes Bank, TVS Motor, JSW Steel, Syndicate Bank, Bajaj Auto, Recltd, Oriental Bank, Indus Ind Bank & Escorts.
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