We are looking for a technical bounce back by virtue of morning star pattern formed (bottom of a downtrend) which means that the reversal is in offing provided we see a gap up opening tomorrow morning and if Nifty 5480 level is broken on closing basis than we should be ready for the level of 5300. Only matter of concern is that Nifty is trading below its 50 DMA and 200 DMA which exists at 5520 and 5712 respectively. Thus before jumping to conclusion that a bounce back will occur, let us see that market confirms the upmove trend with a gap up move as the trend being analysed is only for a small period.
Now Nifty has broken the psychologically crucial level of 5500 and Nifty has to move above 5530 level for some sort of bullishness to start in the market. In such scenarios, one shouldn't attempt to predict the market direction and should trade with information for the stocks to buy today or as a matter of fact with stocks to buy tomorrow info which has the potential to bring riches for you by undertaking intraday trading.
As we know new derivative series commences from tomorrow and we see it consolidating for few days before the next big move. The overall breadth of the market was extremely negative; 1870 stocks declined, while 922 stocks advance.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5468-5404 | 5532 |
| Sensex | 18009 | 18437 |
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| Stock | Profit (Rs) |
| Tip | 1340 (Rs 50,000 Trading) |
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Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 31670 |
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Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 48690 |
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Strong future shares at National stock exchange
Petronet, Idea, Pantaloon, Praj Ind, SRE Infra, Bharti Artl, Tata Global, CESC, MTNL & Tech Mahindra.
Weak future stocks at NSE
LITL, GTL Infra, Ibrealest, Educomp, KS Oils, BGR Energy, JP Associate, Orbit Corp, Rel Media & Orchid Chem.
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