The reports about a fuel price hike this week stoked worries that high inflation will hurt corporate earnings and thus Nifty and Sensex remained in the down trend and positive quarterly results from companies such as Hindalco, HDFC and NTPC failed to cheer the market, though it helped limit the downside. NTPC Q4 net has risen 37.8% to Rs 2,782 Crores. Analysis of open interest data in derivative segment suggests unwinding has been seen in the 5500 strike call and fresh addition has been seen in 5500 put yesterday, and it only shows that one needs to keenly watch the support at 5500 level. Nifty is going to see stiff resistance at the level of 5620-5643. The 5,600-strike call options added 1.15 million shares in open interest through sell-side trades and the market is unlikely to move above this level going ahead. On the other hand, the index looks like consolidating within the 5,450-5,650 range for some time now. Thus to make best use of the available opportunity trade with the accurate sure shot intraday tips as these calls are based on reliable and accurate information and comes from those people who control a large volume at BSE and NSE. The market breadth was negative. Get your LPG cylinders also collected as again a price hike to the tune of Rs 30 per cylinder is imminent. The three state oil firms lose Rs 29.69 a litre on kerosene and Rs 329.73 per 14.2-kg domestic LPG cylinder. State-owned Indian Oil, Bharat Petroleum and Hindustan Petroleum currently lose Rs 16.17 a litre on diesel and after adding local sales tax or VAT, the desired increase to make rates at par with international prices is Rs 18.19 a litre. The three firms will "at current international crude oil prices lose Rs 180,208 crore in revenues on selling diesel, domestic LPG and kerosene below their imported cost in the 2011-12 fiscal," the official said.
Elections Impact on Indian Stock Market
Elections hold the key in Indian politics and thus growth takes a back seat and all those looking for topping up their tanks can do so now in time as 11 May petro products hike meeting stands postponed in view of election results on 13 May. Petrol is likely to be costlier by Rs 3 and diesel may remain unchanged. In the auto sector, two-wheeler manufacturer Hero Honda Motors and utility vehicles manufacturer Mahindra & Mahindra lost around 1.3 percent each on worries about an imminent hike in fuel prices as they fear that with rate hike lesser people will buy vehicles. Of the total 2931 stocks traded on the BSE, 1410 stocks declined while 1370 advanced. The International Monitory Fund, or IMF, once again has revised downwards India's growth outlook for 2011-12 to around 8 percent, citing high inflation and uncertain global economic outlook.Commodity Market Update
US crude was 92 cents lower at $101.62 a barrel, after sliding by more than 2%. One need to keep an eye on this segment as moment crude starts prevailing below $100 level, one may see markets taking a rebound. This is one commodity which can make or break the economy.Click Here to Get Free Stock Market Tips in Email
Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5500-5402 | 5623-5635 |
| Sensex | 18250-18032 | 18748 |
| Stock | Profit (Rs) |
| Tip | 2820 (Rs 50,000 Trading) |
Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 42270 |
Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 67690 |
Strong future shares at National stock exchange
Bata India, Sintex Ind, Hind Uni Lever, Exide Ind, India Info, Glaxo, Apollo Tyre, BPCL, DCB & MRPL.
Weak future stocks at NSE
IRB, SRE Infra, LITL, HDIL, Patni, GT Off shore, RCOM, Rel Media, Vijaya Bank & Bank Of India
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