As we had stated in our previous update that market has changed hands from bearish to bullish grip and this change remains in force till the time the Nifty level of 5600-5569-5520 is maintained and we can see Nifty level of 5726-5751. Thus make use of the bullish rally and trade with sure shot intraday tips which will help you to make money every day in the market. Analysis of derivatives data suggest that strong resistance exists at 5700 level and support at 5600 levels. The daily trend of nifty is in Up trend and as and when this trend will change technically we will keep you abreast with the developments and thus bookmark the site for free updates and paid tips for intraday trading. This bull move can be attributed to IEA releasing 60 million barrels, which just took the wind out of the oil market, India was an immediate beneficiary and bold steps by govt. The another factor is $1 Billion inflow by FIIs in India market which has given the much needed push to the market. We may see the level of 6000 by Diwali and may be the level of 7500 in a matter of 12-24 months. In BSE market watch one can keep an eye on financial sector stocks especially banks which are doing extremely well and a time frame of 12-24 months will yield handsome returns.
The trend is now encountering resistance and we may see a reaction in market by virtue of profit booking and thus one may see market sliding till 5550 from where again a bounce back may take place. Market is likely to take a breather by going in consolidation mode before going in for another up move as market will definitely like to see the forthcoming quarterly results. On the positive side, market breadth was positive as 1,700 stocks advanced for 1,152 stocks which declined.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5600-5569-5550-5520 | 5726-5751 |
| Sensex | 18635-18562 | 19080 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | No call was given for the day |
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Strong future shares at National stock exchange
Bata India, Punjlloyd, Pantaloon, Dish TV, Asian Paints, Colgate Palmolive, Jain Irrigation, Renuka sugars, Nagarjuna Fertilisers & Reliance Capital.
Weak future stocks at NSE
GTL Infra, LITL, S Kumars, India Cement, Sterling Biotech, Aban, Patni, Ultra Cement, KS Oils & Reliance.
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