Indian Share market is going to be affected by action of The Hindu which is now carrying cables from WikiLeaks relating to India which is offering unprecedented insights into India’s foreign policy and domestic affairs. The Hindu had accessed over 5,000 U.S. embassy and consulate cables relating to India through an arrangement with WikiLeaks. It is no doubt that wikileks is causing a lot of security risks for a number of nations and it should make sure that sensitive data should not be shared as it can destabilise the nations. As per media WikiLeaks is a non-profit media organization which is dedicated to bringing important news and information to the public. We will suggest that they do exercise discretion.

 

Another main issue plaguing the Indian market was Repo rate which has been hiked to 6.75% and reverse repo rate has been increased to 5.75% and this is going to lead to loans becoming costly for the borrowers. banking and auto stocks bore the brunt of the hike. Experts reckon that the RBI may opt for further hike in the policy review during May, what with inflation remaining unabated. However one need not worry as next meeting is likely to be on 07 May and we will see two more inflation number. Thus make use of the hot stocks and trade with an added advantage of reliable information which is going to perform irrespective of the condition in the market.

 

Cable 162458 is creating the biggest political controversy again and dates back to year 2008 when Manmohan Singh’s government faced a confidence vote over the U.S.-India nuclear deal. The cable says Nachiketa Kapur, an aide to Congress leader Satish Sharma, had “mentioned to an Embassy staff member in an aside on July 16 that Ajit Singh’s RLD had been paid rupees 10 crore (100 million rupees, about $2.5 million) for each of their four MPs to support the government.” RLD is the Rashtriya Lok Dal, a regional party in Uttar Pradesh. We will only sum up to say that nation interest always comes first and every time and to us nuclear deal is in the Indian interest and thus one must also remembe rthat in politics there are no permanent allies but only permanent interests. Due to these crisis in the face of present govt and Prime minister saying that the present govt is not answerable to previous govt actions may not go down well with the opposition and that is the reason  market breadth was negative with 1638 declines against 1203 advances. However one need not worry as most of the negative news has been already factored in the price and only external factor which can affect Indian market is crude price and Japanese mutual fund investments outflow from the country. However one has to be cautious as political disturbance can lead to a bearish way in the market and keep your fingers crossed till the level of Nifty 5300 is not breached.

 

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Support and Resistances for the Day

Indices	Support	Resistance
Nifty	5450-5300	5530-5620
Sensex	18200-17735	18500-18752

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Stock	Profit (Rs)
Tip	Tip was not executed due to gap down opening.

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Share	Gains (Rs)
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NSE Nifty 50 Stocks	Made Money (Rs)
Tipz	36980

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Strong future shares at National stock exchange

Rel Capital, Apollo Tyre, Mcleodruss, Welcorp, TVS Motor, MRF, Bhushan Steel, Rcom, Tech M & Ambuja Cement.

Weak future stocks  at NSE

Mphasis, Patel Eng, Areva, S Kumars, Central Bank, LITL, Educomp, Sesa Goa, Punjlloyd & GVKPIL.

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