Nifty is in downtrend and if 5400 level is broken than it finds support at 5340-5200 and positive vibes will occur in Nifty once it scales past 5600 level. As of now Nifty is trading in a range with a negative bias. In derivative segment one can go for long put butterfly or a strangle to get the best profit in this segment with the movement of Nifty. Further analysis of derivatives data suggest that open interest (OI) build-up at the call and put options is likely to lead to a range-bound market till the expiry. However if day trading is in your blood, than the correct mantra to make money at NSE and BSE is to trade daily with accurate tips of shares as it is backed by confidential information which is not accessible to general public.
Larsen & Toubro Had a Field Day
Can a single stock move the market and answer is Yes, as it happened with the results of L&T which led to index touching a high during the course of the day and same is attributable to its reporting net profit of Rs 1,686 crore against Rs 1438 crore same time last year, higher than estimated Rs 1,550 crore by various brokerages. Quarterly profit was boosted by pick up in project execution and one time gain from stake sale. The Group has posted profit after tax of Rs 44561.70 million for the year ended March 31, 2011 as compared to Rs 54507.40 million for the year ended March 31, 2010. Total Income has increased from Rs 447283.10 million for the year ended March 31, 2010 to Rs 530082.70 million for the year ended March 31, 2011. Going by the projections Analysts in the market are not going to change their outlook on the stock which is trading at 16 times FY13 estimated earnings.Market breadth was positive, 1072 stocks advanced for 1683 stocks which declined.
Reserve Bank of India Interest Rate Hike Update
The sharp hike in fuel prices will further accelerate inflation, which means the Reserve Bank of India (RBI) may have to raise interest rates by 50 basis points (bps) again and thus one should avoid buying aggressively, however one can definitely enter in value picks in the market. Reliance has been a big disappointment till now.Global Financial Market Events
One need to keep an eye on U.S. Labor Department which will release its weekly jobless claims and Economists expect claims to decline further to 425,000 in the week ended May 14. One can also have a look at Greece which has announced that it will double the size of additional spending cuts planned for this year, as it attempts to attract aid from its neighbors. About a year after its first rescue package was worked out, Greece is once again tapping its neighbors and the International Monetary Fund to avoid having to restructure its sovereign debt.International Monetary Fund Crisis
The IMF has confirmed that Dominique Strauss-Kahn has resigned from the post of managing director. Strauss-Kahn is in a New York City jail, charged with sex crimes. Strauss-Kahn has stated and we quote "I deny with the greatest possible firmness all of the allegations that have been made against me. I want to devote all my strength, all my time, and all my energy to proving my innocence." One fails to understand that at such high positions, how can a person stoop so low in life. well, case is subjudice and thus let the judicial body take its own course.Click Here to Get Free Stock Market Tips in Email
Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5400-5348-5320-5200 | 5470-5500-5600 |
| Sensex | 18032-17834 | 18256-18450 |
| Stock | Profit (Rs) |
| Tip | 920 (Rs 50,000 Trading) |
Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 12970 |
Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 26680 |
Strong future shares at National stock exchange
Hind Uni Lvr, Asian Paints, Exide Ind, Titan, Lupin, OFSS, Bata India, Ranbaxy, Mundra Port & Cummins
Weak future stocks at NSE
Patni, Rel Media, Punjlloyd, GT Offshore, RCOM, NCC, Hind Const, Jindal Saw, SBI & Patel Eng.
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