Nifty is showing a range bound movement with high volatility and is likely to remain in the trading range of 5400-5600. The short term technical indicators are also indicating the same. As a strategy one can go for a straddle above and below given range of 5400-5600 to see Nifty making a sharp movement. If Nifty continues to trade below 5480, the Nifty can fall till 5420-5350. We need to keep a close tab on wholesale Price Inflation Data for May which is likely to come on Tuesday i.e. 14 June 2011, advance tax numbers on Wednesday on 15 June 2011 and monetary policy meeting on Thursday i.e. 16 June 2011. So it is going to be an action packed week with high volatility which means more profit as higher is the volatility higher is the profit as both are linear in nature. Thus make use of the opportunity and make money with intraday sure shot calls as each successful trade takes you towards the perfection as your body starts getting attuned to the trade result. The sector which is seeing positive trend in the market is Consumer Durables as normal monsoon always boosts the demand for consumer goods. On BSE 1102 stocks advanced vs 1635 declines showing an overall prevalent negative trend in the market.
Analysis of FIIs purchase data suggests that they were net sellers to the tune of 64 Crores and domestic institutions were net buyers to the tune of 310 crore. The five-day daily average volume on the NSE stood at 460 million, lower than its 90-day average daily volume of 615 million shares and it is definitely a disturbing trend in the market.
IIP data Update
India's industrial output grew at 4.4 percent in April versus 7.3 percent in March as per old series. As per the new series, IIP growth for the month stood at 6.3 percent versus 13.1 percent in the previous month. With the mining and manufacturing sectors pulling down the overall growth, the April growth came below estimates as per the old series. Finance Minister Pranab Mukherjee described the decline in industrial growth rate as "disturbing" and said he would wait for longer-term IIP growth to ascertain the trend.
Despite the slower-than-expected growth, the Reserve Bank of India is expected to hike its policy rates by at least 25 basis points at its upcoming June 16 credit policy meet, to tame stubbornly high inflation, which is the highest among major Asian economies.
Moreover British industrial output also fell more than expected in April due to extra public holidays and supply chain disruptions caused by the Japanese earthquake and tsunami.
Political Situation
Meanwhile, straining ties between the DMK and the Congress due to the fallout of the 2G spectrum scam has been putting the pressure on the stock markets because DMK chief M Karunanidhi has called an emergency meeting of the party's high-level action committee today to decide on the party's alliance with the Congress as his daughter’s fate hangs in balance having been denied the bail. Baba Ramdev fast against corruption has finished with Shri Shri Ravi Shankar offering him a glass of juice. So UPA can have a breather for the time being from the crusade against corruption.
Global Data to keep Tab
Globally keep an eye on data related to US retail sales, US Industrial Production, US unemployment claims and housing starts, UKs and Europes CPI and Euro Industrial Production.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5350 | 5564-5600 |
| Sensex | 18000 | 18360 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | 880 (Rs 50,000 Trading) |
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Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 43970 |
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Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 67680 |
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Strong future shares at National stock exchange
Dish TV, Bata, Titan, Karnataka Bank, Hdil, Patel Eng, Havells, Raymond, Idea and MRPL.
Weak future stocks at NSE
Ongc, Tata Motors, LITL, Jain Irri, GmrInfra, Tata Motors, DCHL, Shriran Tran, KSoils and SUNTV
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