The market is trading weak, however the technical indicators are over stretched and if Nifty is able to move above the level of 5200; we are going to see a short term bounce.
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As we can see that Nifty has broken below its 200 days moving average (200 DMA) during intra day trade which is a matter of concern; however a reason to rejoice is that Nifty has closed above its 200 DMA of 5150 level on a closing basis. This is a positive sign for the market . Bears will like to fight again with bulls to gain supremacy as short term moving average has slipped below the medium term moving average. The overall breadth was positive as 1,539 stocks advanced while 1,270 stocks declined at BSE. Let one more positive closing come in the market and one may say with authority that Nifty is up till the time the level of 5200 is held.
Analysis of derivatives data suggests that highest open interest (OI) is seen in 5100 strike price and further analysis of April 2012 series shows that highest OI is in 5000 strike price. This shows that Nifty 5000 mark is going to be a rock solid support for Nifty in month of April.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5155-5140-5100-5080 | 5200-5215-5289 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | 1430 (Rs 50,000 Trading) |
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Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 28450 |
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Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 53940 |
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Strong future shares at National stock exchange
VIP Ind, Yes Bank, IVRCL Infra, Welcorp, Century, Bombay Dyeing, Volats, Tech M, Bata India & Mcleodruss.
Weak future stocks at NSE
DCHL, SRE Infra, HDIL, TVS Motor, Renuka, Dhan Bank, Orient Bank, MTNL, Finan Tech & OnMobile.
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