Market was down by virtue of holiday syndrome as 'Ramnavmi' and another holiday on Thursday for 'Dr Babasaheb Ambedkar Jayanti' weighed on the market sentiments. To add to the negativity weak IIP numbers exerted pressure on the bourses. India's Industrial growth slowed to 3.6 percent in February compared to 15.1 percent expansion in the year-ago period, dragged down by poor performance of manufacturing, mining and capital goods sectors, government data released today showed. The growth was also slower than the revised growth rate witnessed in the preceding month. As we have stated in previous day update, market is appearing to be exhausted and thus it is appropriate to day trade in specific opportunities available in stock market and for holding good opportunities exist in midcap segment which are ready for breakout any time. Why we are saying that opportunity exists in the midcap segment as valuations of Nifty stocks are now at a substantial premium when compared with the midcap counters and thus a proper guide can help one to get the midcaps which are worth accumulating now and same has been realised and that is the reason we are seeing the attention shifting from Nifty stocks to broader market. So it is possible that even though the Nifty might correct a bit, the breadth of market might continue to be stronger than the Nifty or the Sensex. Keep watch on Nifty given support and resistance levels and make money every day at NSE and BSE.
We take the opportunity to wish our readers on the eve of Baisakhi which is a Sikh religious festival. It falls on the first day of the Baisakh month in the solar Nanakshahi calendar, which corresponds to April 13 in the Gregorian calendar. It is an ancient harvest festival in the Punjab region, which also marks beginning of a new solar year, and new harvest season.
China has always thought of a step ahead and it has now started imparting English language to its students and probably that is the reason now we find that India ranks lower than China in terms of its English speaking abilities. In a study of 44 nations, China ranks at 29 while India comes in at 30. Moreover now China has probably softened its stand on stapled visa as it has has given proper pasted visas to four journalists born in the state of J&K. The journalists are part of the media delegation that is travelling with Prime Minister Manmohan Singh tomorrow to Sanya in China for the Brazil-Russia-India-China-South Africa (BRICS) Summit. Stapled visa were being given as China wanted to show that it does not consider J&K as a part o India. Better late than never and we need to keep our guard up as China is like a serpent which can bite anytime.
Global Financial market News
Globally good news is that Crude oil futures has eased about half a percent to near $112 a barrel amid reports of a possible Libyan peace plan. The U.S. dollar was mixed against its major counterparts on Monday after U.S. lawmakers pulled the government back from the brink of a shutdown by agreeing to cut about $38 billion from federal spending this year. The Bank of Japan on Monday lowered the assessment for seven out of nine regional economies, citing setbacks in production following the Great East Japan Earthquake. Let us hope that Portuguese also gets some sense of stability on financial front.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5717 | 5870-5956 |
| Sensex | 19040 | 19550-19842 |
| Stock | Profit (Rs) |
| Tip | 1140(Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 22680 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 35980 |
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Strong future shares at National stock exchange
India bulls real estate, Suzlon, SREI Infrastructures, Hexaware, Hind Oil exploration, JP Power, Bhushan Steel, Jindal SWHL, Sterlite technology & Polaris.
Weak future stocks at NSE
National Alum, Jain Irrigation, Aurobindo Pharma, Siemens, Sterling Bio, TVS Motor, Sun TV, Hind Uni Lever, Apollo Tyre & Ruchi Soya.
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Question: Why Sun Pharma Gave a Upmove Today?
Ans. The reason Sun Pharma gained was the newspaper report that the home-grown pharma firm is eyeing a marketing alliance for the Indian market with the US based drugmaker Merck & Co. Thus one need to have right information at right time to make money from stock market.
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