The jubilation appeared to be short lived as Finance Minister Pranab Mukherjee gave a go ahead to the draft bill for the mining sector, which makes it mandatory for coal miners to share 26% of their net profits with project affected people and thus story of Coal India as a multibagger gets a thumbs down approach and probably a good stock has been nipped in the bud. Now Nifty has formed lower tops and it is unable to cross the 50-week average at 5,750 and one can be bullish only once Nifty is able to sustain above this level for 3 consecutive days as it happens to be near 200 DMA also. Thus to make money daily in market one must follow Intraday Jackpot Tips as it comes on reliable news which is corroborated and is technically tested against 51 parameters to provide a trader that one particular call which is going to perform irrespective of the condition in the market.
50-Day Moving Average is below the long term 200-Daily Moving Average on technical charts. EOD charts KST lines are attempting to cross on overbought region and we may need to wait for selling and let the shorts be not undertaken blindly. In worst scenario a bottom is seen forming at 5500 levels and long term investors can aim to gain 20-25% return with a time perspective of nine months. Dark Cloud cover formation at 200 DMA is a serious concern for the market.
Derivatives Analysis
The significant open interest build-up at 5,500-strike put options indicates a short-term support.The 5,800-strike call options added more than two million shares in OI through sellside trades, and, hence, a strong resistance is seen above 5,800.
Economic Data Under Scanner
Key data to watch out for next week would be May IIP numbers. Moreover one need to see quarterly earnings reports too contributed in the coming days ahead. Next week a Cabinet reshuffle is also waiting to happen with 2 power seats being offered to DMK without say in politics.
Sensex & Reliance Forecast
Morgan Stanley has downgraded Reliance Industries to 'equal-weight' from 'overweight' and cut its target price on the stock to 956 rupees from 1,206 rupees. UBS has lowered the target on Sensex from 22,500 to 21,000, citing negative earnings momentum.
Export – Import Update
India's trade deficit in May widened by around 49% YoY to $14.9 billion as imports rose 54.1% to $40.9 billion, driven by a 71% jump in non-oil products totalling $30.75 billion while exports grew 56.9% from a year earlier to $25.9 billion.
FIIS vs DIIs Data Update
In July, FIIs were net buyers to the tune of 3646 crore (net buyers since last five trading session) while domestic institutions were net sellers to the tune of 1964 crore (provisional data).
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5625-5600. | 5,700-5715-5792 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | 1190 (Rs 50,000 Trading) |
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Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 27590 |
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Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 45730 |
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Strong future shares at National stock exchange
Renuka, Bata India, Dish TV, CESC, Punj lloyd, Unitech, Pantaloon, Godrej Industries, Hexaware & Sobha developers.
Weak future stocks at NSE
GTL Infra, LITL, Orchid Chemicals, Sun TV, S Kumars, LIC Housing, KS Oils, Educomp, Ambuja Cement & Zee ltd.
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