We are in a range bound market as Nifty 5400 is going to act as a major support and we need to keep an eye on the levels of 5520-5550 which will provide an early signal for an up move in offing. In near future market is going to consolidate within the range of 5320-5630 and thus it makes sense to keep an eye on slow stochastic which will let us know when to enter in the market. On the positive front, the index was able to close within the daily Bollinger Band and in such a scenario it is always best to day trade with tips providing accurate tips and invest in equities and focus on specific stocks.
Derivatives Analysis
The trading pattern in the August futures in the last two hours suggests a modest recovery to around 5,500 tomorrow. The August futures saw significant volume-based buying range extension up to 5,470 from day’s low of 5,430. However the options traders expect the Nifty to trade below 5,500 in the near future and hence they have increased short positions in 5,500-strike call options and covered short positions in the same strike put options. The change of hands in 5,400-strike put options also hinting at a trade below 5,400 in the near future. The market breadth is fairly bearish, with declining shares outnumbering advances in the ratio of around 2.5:1 on the BSE.
Global Financial markets Update
- US situation is still hanging in fire as they have done nothing except to postpone the situation by appointing the committee which will deliberate until December on how to address this problem of trying to reduce government spending by USD 4 trillion over the next 10 years. Moreover no consensus exists on the subject.
- The House voted 269-161 yesterday to approve the measure, which raises the national debt ceiling enough to fund the government until 2013 and threatens automatic spending cuts to enforce a goal of cutting $2.4 trillion over the next decade. The democrats will not want to see any of the entitlements for social welfare getting cut down. The Republicans don't want taxes to be increased. They would rather increase the number of tax payers rather than the taxes themselves.
- Vladimir Putin Russian, Prime Minister stated that US is living beyond their means and shifting a part of the weight of their problems to the world economy. He further added that they are living like parasites off the global economy and their monopoly of the dollar.
- As of now global economy is on a weaker footing as Greece situation also hangs in a balance and uncertainty is increasing at global front rather than decreasing.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5400-5380-5320 | 5490-5550-5600-5630 |
| Sensex | 17920 | 18220 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | 1430 (Rs 50,000 Trading) |
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Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 34260 |
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Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 57890 |
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Strong future shares at National stock exchange
Hexaware, Idea, Chambal Fertilisers, Petronet, Bata India, Bharti Airtel, Tech Mahindra, GSPL, Ranbaxy & Opto Circuit.
Weak future stocks at NSE
LITL, JSW Steel, Jindal SWHL, Orchid Chemical, Canara Bank, IVRCL Infra, Ibrealest, JP Associate, Educomp & BGR Energy.
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