Today was a day again of indecisiveness where market showed wild swings. The profit-booking by institutional and retail investors is likely to be the order of the day ahead of coming Thursday derivatives expiry. However selected stock ideas will always perform as sector and stock specific action is always seen in the market. The real reason for today’s market bounce back was due to short covering. Traders who formed short positions in the morning were trapped and their stop losses got trigged as markets began recovering and they were forced to buy to cover their shorts. In the coming days ahead the likelihood of a reversal is looking more likely than the markets heading going Northward. Big cap stocks like Reliance and Axis bank have not lived upto the expectations of the traders and thus market app
ears to have had peaked with peak maximum restricted to 6030-6200 levels. One must book partial profits from the portfolio for the time being. One has to keep the support and resistances under observation as any break of crucial support can lead to a break in the market. The market breadth was negative with 1570 declines against 1286 advances on the BSE. we are more or less likely to see Nifty consolidation with in a range of range of 5,780- 5,880 levels in next two trading sessions. The correction direction for market will be visible post expiry. If Nifty crosses 6000 mark, than another leg of up move will commence in market. Two stocks which can propel Nifty upwards are ICICI and L&T provided they stay above critical levels and these are available to subscribers of Indian-share-tips.com paid services.Commodity Tip
The dollar index is at support and there is bullish divergence, showing that the uptrend may return. The gold futures contract too have given a sell signal.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5800-5735-5640 | 5945-5971-6000 |
| Sensex | 19450 | 19713 |
| Stock | Profit (Rs) |
| Tip | Tip was not activated due to gap down opening of recommended share. |
Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 22560 |
Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 33780 |
Strong future shares at National stock exchange
DCB, TTML, MRPL, Triveni, Ambuja Cement, Tata Chem, Bhushan Steel, Sintex, Titan & Petronet.
Weak future stocks at NSE
GVKPIL, PFC, GMR Infra, Infosys, Nat Alum, McDowell, Patni, DLF, Recltd & Axis Bank.
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