The technical bounce back as suggested yesterday has occurred and it is now sustainable only if it moves above the level of Nifty 5000 mark which is a psychological barrier. The Bank Nifty has been shaken violently and thus it can fall to the levels of 9300 and if worse continues than it can fall till 8500 level also.
The cause of today rally can be attributed to the healthy global equities after the US Fed indicated that the US economy was poised to grow in the second half of 2011 also lifted investor mood.So if global stock markets close in the green, we are likely to see strong opening tomorrow. Thus make use of the opportunity and trade in best stock for the day and make money like professionals. Now Nifty is going to bang at the doors of 5000 mark as options traders have build up fresh shorts in 4,800-4,900 strike put options and initiated a short covering in the 5,000 strike call as participants expect the current bear phase to be halted for a while. If we have a look at the Nifty for a period of coming one month we see it being range bound with in a range of 4700-5300. BSE market breadth was positive. Out of 2,940 stocks traded, 2,101 advanced while 729 declined. If we consider that which is the best stock to buy today and in that scenario Nifty will be the ideal bet as it is a basket of stocks; however go long provided it is able to sustain above the level of 5000.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 4679-4526 | 4950-5000 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | 1930 (Rs 50,000 Trading) |
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Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 37860 |
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Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 65940 |
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Strong future shares at National stock exchange
Bajaj Auto, Jubilant Food, Chambal Fert, Bata India, TVS Motor, Ruchi Soya, Hero Motors, Idea, Asian Paints & M&M.
Weak future stocks at NSE
Educomp, IVRCL Infra, Jet Airways, KS Oils, Triveni, OnMobile, Nagar Fert, GT Offshore, Moser Baer & Suzlon.
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