The technical indicators are suggesting that the market is oversold and the Nifty PCR OI suggests a bounce from the lows and we can see the Nifty rising to the levels of 4950-5000-5100-5200-5250. The volatility will be high in the week due to F&O expiry and now bears can relax till the time Nifty do not break the psychological support of 4800 level.
Today pullback was seen in ADAG, infra and metal stocks. The market breadth was positive with advances at 956 against declines of 477 on the NSE and thus be ready for a technical bounce back and make money by trading with stock of the day which performs irrespective of the condition in the market and remember it finishes same day.
Impact of Financial Meltdown in Global Markets on India
India is largely a domestic oriented economy and thus it is impacted in a limited way by the global scenario and long term scenario remains bullish for India. With valuations at reasonable levels, we believe India should become a favoured destination for foreign investors and that is the reason Indian Prime Minister Manmohan Singh has stated and we quote "If we can continue to grow at this rate, we are well-positioned to be the country with the third-largest GDP in the world by 2025. But robust growth would not happen automatically by simply proceeding on a business-as-usual basis. It may seem that a transition (from 8.2% in 11th Plan) to 9% growth is not difficult. However, it is in fact a very ambitious target given the current global economic situation."
Global Market Update
U.S. economic conditions improved slightly in July, as industrial production gathered steam, according to report Monday from the Federal Reserve Bank of Chicago.
Gold tip
Gold surged to an all-time high of Rs 28,540 per 10 grams on bullish trend in international markets. Rupee weakened to nine-month low of Rs 46.10/$. The festival seasons are closer and hence the consumption of gold will increase. This will raise the prices further. The uncertainty over economy and market doesn’t show any sign to reduce and hence investors will continue seeking a safer asset for investment. Gold offers safety of investment as well as returns. Moreover, experts (such as JP Morgan analyst John Bridges) have been predicting Gold prices to rise 10%-20% from the current level by the end of this year.
News Based Activity
Sugar manufacturers, Shree Renuka Sugars, Bajaj Hind, Bajaj Hindustan, Balrampur Chini Mills, Bannari Amman Sugars gained more than 5% each on government nod for export of an additional five lakh tonnes of sugar.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 4778 | 4950-5020-5050 |
| Sensex | 15986-15762 | 16469-16617-16812 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | 1330 (Rs 50,000 Trading) |
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Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 26455 |
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Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 43890 |
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Strong future shares at National stock exchange
Chambal Fert, Jubilant Food, Hero Motors, Bata India, Petronet, VIP Ind, Asian Paints, Ruchi Soya, IGL & Bajaj Auto.
Weak future stocks at NSE
IVRCL Infra, Educomp, Triveni, Jet Airways, OnMobile, GT Offshore, Moser Baer, Dhan Bank, Aurobindo Pharma & MLL.
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