Weak Asian market can be attributed to the today’s plunge in the market which we had predicted yesterday. The market breadth has been negative with 1826 declines against 1083 advances. IndusInd Q4 net profit jumped 76% to Rs 172 cr and despite that it has gone down today as in the negative market environment even good stocks also take a toll. We see market moving in a broad range of 5700-5735-5800-6050-6135 and thus it is good to trade only in successful stocks as aim is to trade less but trade with a high level of accuracy. The aim should be to stay longer in market, rather than to cut the golden eggs laying hen as stock market opens its gateways to riches almost every day. If Nifty breaks 5700 level than one has to exit all longs from the market.
In the present global scenario of high inflation, we may see a consolidation phase in the market as we are going to see the March quarter earnings and looking out into June quarter earnings for companies across the globe and we need to be cautious as rising costs, input costs and the high rising crude costs are going to take a toll on the market.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5650-5625 | 5784-5800-6000 |
| Stock | Profit (Rs) |
| Tip | 1190 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 25890 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 43860 |
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Strong future shares at National stock exchange
Hero Honda, Canara bank, Container corp, ONGC, Titan, Petronet, HindZinc, BEL, Boschltd, Voltas.
Weak future stocks at NSE
Havells, Siemens, Ultracemco, Hindalco, Jindalstl, SBIN, Reliance, Powergrid, DLF, LITL.
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