It was very clearly stated in the last post in the chart that if Reliance breaks 982 level we are going to see further fall in Nifty and same happened and now it appears that we are heading for 5285. In this scenario than Reliance falls to the level of 850. Reliance Industries closed at Rs 868, its lowest since May 2009, on news that the Comptroller and Auditor General of India (CAG) said in its recent report that the company was shown undue favour by the Union ministry of petroleum and natural gas and the Director General of Hydrocarbons (DGH) in its Krishna- Godavari (KG) basin block, causing a huge loss to the exchequer.World markets are in a bearish mode and that may put extra pressure of a downside breakout in the case of Sensex and Nifty. Now just keep an eye on Nifty 5350 level which if not sustained means we are heading for 5250 levels. A gap up or down opening cannot be ruled out on Monday, given the Greece situation which will be clear on Sunday, after the vote of confidence. Thus it is a must that one trades in stock specific calls which are best stock ideas for the intraday and close the position same day to avoid seeing any global uncertainty. As a free advice; If you are looking with a view of one to two years than one can go for financials and industrials sector (capital goods and infrastructure) which have been beaten considerably and thus it do holds a tremendous potential with a likely technical bounce back.
Stocks from the interest-rate sensitive automobiles, realty and banking sectors have declined on worries that higher interest rates could dent demand. The Reserve Bank of India (RBI) raised policy rates for the 10th times in fifteen months, extending the longest steak of monetary tightening in a decade. Admitting that the Reserve Bank's anti-inflation monetary measures may impact growth, Finance Minister Pranab Mukherjee today said the major challenge right now is to contain price rise. The market breadth was weak. Out of 3,018 stocks traded on the BSE, 956 advanced as against 1,946 declines.
Global Financial market Update
World stocks have touched three-month lows as Greece's 18-month sovereign debt crisis has brought its government to the brink of collapse; the austerity measures have resulted in pitched battles between the people and riot police. Athens is seeking to make budget cuts worth 28 billion euros over the next four years to meet the eligibility requirements for the release of the next tranche of aid - 12bn euros - from the European Union and IMF. IMF is very concerned about the debt conditions of certain countries and sooner or later we may see more cobwebs and cockroaches coming out of the cupboard. All countries have to get their act together to get the economy going.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5325-5285 | 5460 |
| Sensex | 17500-17230 | 18200 |
| Stock | Profit (Rs) |
| Tip | 1225 (Rs 50,000 Trading) |
Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 31890 |
Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 53690 |
Strong future shares at National stock exchange
Punjlloyd, Titan, Karnataka Bank, Bata India, Max India, Alok Ind, Dish TV, Raymond, IRB & Divis Lab.
Weak future stocks at NSE
Sun TV, KS Oils, Bhushan Steel, Tata Motors, DCHL, Escorts, LITL, STR Tech, Jain Irrigation & BEML.
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