As we had stated in last update that market is going to show a sharp up move and same occurred and saw profit booking occurring at the higher levels. The daily trend of nifty is in Up trend till it sustains above the level of 5000 mark which is a psychological mark. Now it appears that Nifty will consolidate for some time to get ready for the next leg of move which is bullish if it is able to move past 5200. Thus remember to trade daily with hot stock picks and be a part of team which has made money making a second nature as success begets success and it is contagious.
Just a cautionary word that Eurozone crisis if not tackled properly can have negative effect on Indian stock market and thus a fall to 4700 levels may occur on breaking the levels of 5000 mark which is a psychological barrier. However not to worry as positive statements are coming as we see European Commission President - Jose Manuel Barroso pledging to recapitalize debt-ridden banks, and this in turn will revive the risk appetite for equities. Today, the overall breadth was negative as 1,403 stocks declined for 1379 stocks which advanced on the BSE.
Nifty Future Predction : State of the Market
Derivatives data option distribution suggests that Nifty will encounter strong resistance at 5200 level. Taking further cues and puts and options data market may open weak tomorrow as this down trend is also indicated by technical indicators like stochastic Slow and MACD i.e. Moving Average Convergence/DivergenceClick Here to Get Free Stock Market Tips & Free E-book in Email
Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5030 | 5140-5180-5200 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | 2920 (Rs 50,000 Trading) |
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Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 41860 |
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Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 67490 |
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Strong future shares at National stock exchange
DLF, Tata Motors, Bombay Dyeing, Infy, LIC Housing, Hexaware, Jubilant Food, NMDC, Educomp & Praj Ind.
Weak future stocks at NSE
Pantaloon, Dhan Bank, Rolta, Sintex, Adanient, GT Offshore, Voltas, SCI, MTNL & Jain Irrigation
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Market Gyan : Corelation Between Dollar & Commodities
Commodities prices move inversely to the dollar index. The dollar index measures the greenback against a basket of six major currencies.
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