Congratulations, as now again the confirmed trend of the market is Up trend and we have been stating the same for past few days by writing it openly here. One can check out previous posts by clicking the older posts link given at the bottom of each post. Now we may see Nifty scaling past 5775 levels and our projection of Nifty 6000 levels by Diwali is achievable. We just need to see if Nifty can sustain above its 200-DMA which exists at 5743 for three consecutive days and if it does than we can bonfire in the market as it indicates a confirmed trend reversal. Now concerns on the Indo-Mauritius double taxation avoidance agreement (DTAA) appears factored in the market as in the long term the same is in the interest of the nation and thus trade with daily intraday tips and make sure shot profit in the share market. The market breadth was positive with 1898 stocks advanced for 968 stocks which declined on the BSE.
Derivatives Data Analysis
The options traders turned buyers in the 5,600-5,700-strikes, mostly to cover their short positions. The 5,800 call added 1.30 million shares in OI through sell-side trades, which indicates resistance above 5,800. The sell-side OI at 5,600-5,700 puts indicating support.
Reliance Magical Level for Trading
Good news is back for Reliance as source from Oil Ministry said that it will approve the $7.6 billion deal between RIL and BP Plc and thus if it moves above 885 than another leg of up move will start in the stock which will also propel Nifty upwards.
Medium Term Concerns for the Market
While the inflation has eased, there are expectations that some amount of weakness may persist in the market going forward because profitability of India Inc. may remain under pressure in the first quarter of FY12 due to surge in input costs, moderation in volume growth and rising competition.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5655 | 5792 |
| Sensex | 18950 | 19240 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | 1320 (Rs 50,000 Trading) |
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Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 32480 |
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Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 47800 |
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Strong future shares at National stock exchange
Bata India, Dish TV, Renuka, Pantaloon, Godrej Ind, McDowell, Punjlloyd, CESC, Hexaware & Tata Global.
Weak future stocks at NSE
GTL Infra, LITL, Sun TV, Zeel, GVKPIL, Triveni, LIC Housing, Dena Bank, Union Bank & Ambuja Cement.
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