As we had stated that market is in a consolidation phase and a new leg of uptrend will commence provided it can break past the level of 5320. Now we see a mixed picture being shown by momentum oscillators as MACD is bullish while Stochastic Slow is showing a downward bias. Now all eyes have to be on the outcome of Greek crisis and if it is positive, we see rally past 5320 levels and may even test its 200 days moving average (DMA) at 5400.
The next week is going to be a short week with two holidays namely Bakrid on 07 Nov 2011 and Gurunanak Jayanti on 10 Nov 2011. Our clients need not worry as they get extended days while trading with hot stocks as they get extended days and these holidays help them to rejuvenate with the profit created during the days days. Life is not all about making money but is also to enjoy each and every day in the life so that when one sits back in later part of life, one never regrets the time spent and thus comes the importance of family in life. Analysis of market during the course of the day suggests that breadth was negative in the market.
Greek Crisis Update
The Greece ruling party withdrew support and asked the Prime Minister to resign, thereby raising hopes that a referendum to the latest EU bailout package may not be needed. Papandreou's Pasok party holds a slim majority, 152 out of 300 seats. The Greek cabinet is now meeting in emergency session. The row threatened to overshadow a meeting of the G20 in Cannes, where leading industrialised nations are to discuss the eurozone debt crisis. Several government ministers have criticised the idea of a referendum. On Monday, Mr Papandreou shocked European leaders and financial markets by calling a vote on the eurozone bailout plan.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5200-5150 | 5280-5320-5350-5485 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | 2940 (Rs 50,000 Trading) |
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Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 43970 |
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Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 67680 |
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Strong future shares at National stock exchange
RPower, Escorts, Hind Uni Lvr, PFC, RECLTD, OnMobile, ALBK, Orchid Chem, Jindal SAWL & Rel Infra
Weak future stocks at NSE
Jain Irrigation, EKC, GVKPIL, VIP Ind, Bajaj Hind, DCHL, Cummins India, NCC, Welcorp & Sintex.
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