Double Tax Avoidance Treaty Update
India has resumed talks with Mauritius on the existing double tax avoidance treaty, Finance Minister Pranab Mukherjee said Tuesday. "As far as the Mauritius double taxation avoidance agreement negotiations are concerned, it is an old one. For some time the talks were suspended, now it has resumed," Mukherjee told reporters on the sidelines of a conference.
Analysis if the derivative segment suggests that options traders have covered short positions in the 5,400-strike put and have built up significant short positions at 5,300-strike call. A major OI build-up was seen at the 5,200-strike put through sell-side trades. This clearly means resistance above 5,300 and support at 5,200.
World market Update
It appears that the Greek government would survive an up-or-down vote, paving the way for Athens to receive short-term funding from its neighbors. Greek Parliament will have a confidence vote on Prime Minister George Papandreou's reshuffled government tonight. The vote is largely a referendum on the unpopular austerity measures proposed by Papandreou in exchange for emergency funding aimed at preventing a wider sovereign debt crisis in the euro area.
Keep an eye on the U.S. Federal Reserve's two-day policy meeting that begins later today for further clues on the health of the U.S. economy.
Indian market is not immune to the global worries and that is the reason weak cues from the global market front in wake of the inability of European governments to agree on a loan payment scheme to spare Greece from default led to market breadth being negative. Out of 2898 stocks traded on the BSE, there were 1127 advancing stocks as against 1665 declines.
Bank Strike
Get your act together as 10 lakh bank employees are going to strike on 07 July 2011 and make your financial transactions before that to avoid any inconvenience on the said day. This is to protest against the government decision to dilute its equity in the banks and giving foreign investors additional voting rights.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5170-5100 | 5350 |
| Sensex | 17230 | 17810 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | 2230 (Rs 50,000 Trading) |
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Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 46770 |
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Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 59680 |
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Strong future shares at National stock exchange
Idea, Titan, Bata India, Godrej Ind, Hind Uni Lvr, Bharti Artl, Adanient, India Info, Pantaloon & Apollo Tyre.
Weak future stocks at NSE
GTL Infra, KS Oils, Escorts, TV 18, LITL, STR Tech, Jain Irrigation, PFC, Polaris & S Kumars.
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