Analysis of past 2 weeks suggest a range bound in the key indices and is trending with negative bias and thus we may see it taking support at 5400. On the positive side if Nifty is able to scale the wall of 5640 we may see 5700-5800 levels which appears to be the peak. A correct data availability for monsoons can now give the correct direction of movement to the market as a good monsoon can only tame the food inflation.
As it is buying has been seen in capital goods stocks ahead of the industrial output data tomorrow.The market breadth is slightly negative as1388 stocks advanced, while 1402 stocks declined at BSE. It is no doubt that govt and RBI will be taking tough actions to keep India getting into recession. As it is food inflation picked up to 9.1% from a year earlier for the week ended May 28, higher than 8.55% recorded in the previous week and thus it is confirmed that further monetary tightening is going to take place. Prime Minister’s economic advisor Kaushik Basu stated that petroleum product prices need to be hiked in order to maintain the FY12 fiscal deficit target and also said that inflation for March 2012 would be 6.5% weighed on investor sentiment.
Click Here to Get Free Stock Market Tips & Free E-book in Email
Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5500-5450-5375-5177 | 5560-5600-5640-5800 |
| Sensex | 18334-18229 | 18525-18740 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | 1130 (Rs 50,000 Trading) |
Click for Daily Sure Shot Tip: Make Money Like Professionals
Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 19560 |
Click Here to Subscribe for Daily Intraday Money Making Tips
Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 47900 |
Click Here to Subscribe for Daily NSE Future and Option Tips
Strong future shares at National stock exchange
Dish TV, Bata India, Titan, Karnataka Bank, HDIL, Patel Eng, Havells, Raymond, IDEA & MRPL.
Weak future stocks at NSE
Sun TV, KS Oils, DCHL, Tata Motors, GMR Infra, Jain Irrigation, LITL, ONGC, Hindalco & Pir Health.
Click Here to Get Free Future and Option Tips in Email
If you like our post than do not forget to refer our sharemarket tips website to your friends and colleagues. You can find more info related to the share markets of India by searching with the following keywords on the site by using the Google tool as given on the financial blog cum website.
