As per our last update Nifty has achieved our target by crossing 5000 mark and this strategy of going long in Nifty has yielded handsome dividends for our paid clients. Now all eyes are set on the guideline being provided by Infosys and its quarter earnings. We expect that Infosys will results be inline with the guidance and rupee depreciation against dollar will be an added advantage in the current quarter. Market will be closely watching the forecast and comments on currency hedging activity and couple the same with future guidance which we do not see being changed. It is expected that dollar revenue growth guidance will remain at 18-20% YoY, despite better-than guided performance in Q2FY12 and same gets translated into 6-8% QoQ growth guidance in H2FY12.
However only concern is that ahead of results IT stocks have gone down which is a matter of concern. One need not worry as traders can daily make money with hot stock news as stock specific news is only known to select lot and they are part of that forum who make daily money in Indian stock market. Further analysis of future and options data suggests that put call ratio of 1.26 times in 5,000-strike and four times in 5,100-strike is only indicative of a fact that strong selling pressure for the Nifty will exist between 5,000 and 5,100 levels and thus Nifty 5100 is going to be a stiff resistance in days to come. Further the data analysis suggests that Nifty 4900 is a strong support and this is by virtue of info available related toopen interest build-up at 4,900-strike call and same strike put. Tomorrow if Infosys is not able to perform magic and global markets turn weak, than additional selling pressure will be seen in the market.
Global Update
The global scenario had a great impact on the forex market today as traders waited on pins and needles for a crucial vote in the Slovakian parliament on approval for an expanded sovereign debt bailout funds. The vote, which was expected to be announced earlier this morning, is being delayed by political infighting. Still, Greece is now likely to get an 8 billion installment of its rescue plan after getting approval from a troika of lenders that were in Athens inspecting the nation's efforts to get its fiscal house in order.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 4930-4800-4750-4720 | 5000-5030-5080 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | 1990 (Rs 50,000 Trading) |
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Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 33985 |
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Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 58790 |
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Strong future shares at National stock exchange
Bombay Dyeing, Tata Motors, Educomp, DLF, IDFC, JP Associat, Tata Motors, Arvind, Praj Ind & ACC
Weak future stocks at NSE
Nagarjuna Fertilisers, Rolta, Dhan Bank, KFA, Adanient, Sintex, Voltas, DCB, SCI & Pantaloon.
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