Nifty is not able to break past the key resistance level of 6130 and thus on break of Nifty 6000 mark, it can head for 5900 levels and same can be also attributed to bearish movement in Tata Motors and Ultratech Cement on the last closing day.  Analysis of the chart of the Nifty shows that select technical indicators like MACD and Stochastic slow have turned negative. The blue levels shown on the chart below shows the level at which Nifty can see support coming for its bounce back during its downward journey.

Nifty holding 6000 mark is of the crucial importance; else in the month of February we see Nifty moving with in a band of 5800-6300. Disinvestment of Oil India and NTPC in the month of Feb means that money supply may get dried and thus we may see weak closing in the month of Feb unless the budget is just too good for the market. Thus to take the benefit from the results season; it is ideal to trade with sure tip of the day and make money like professionals.

The results season is in the air with results of bigshots will be watched to get the forthcoming trend for the market like Bank of Baroda, United Sprits on Monday, UCO Bank, Apollo Tyres and HSBC Market services PMI on Tuesday, Cipla, Tech Mahindra on Wednesday, ACC, Ambuja Cement on MRF, Aurobindo Pharma on Thursday and results of Cadila, Hindalco, Mahindra & Mahindra, Canara Bank, Sun Pharma on Friday. Moreover now all eyes will be looking for the signals from union budget and rail budget.

Stock in News

Bharti Airtel stock is in trouble and if it breaks the level of 50 DMA i.e. 329/326 level than we see it taking support at 300 mark which happens to be its 200 DMA as these day moving averages act as a good support from where stocks do bounce back. The weak results of Bharti Airtel shows the woes of telecom sector in India and its resurgence can help Nifty rise from the ashes which will be not possible if it breaks the 50 DMA level.

Support and Resistances for the Day

Indices	Support	Resistance
Nifty	6000-5980-5940-5820	6060-6100-6130

Jackpot Tip Profit

Stock	Profit (Rs)
Tip	1670 (Rs 50,000 Trading)

Intraday Trading Tips

Share	Gains (Rs)
Tips	18340

Future and Options Daily Paid Tips

NSE Nifty 50 Stocks	Made Money (Rs)
Tipz	56470

Strong future shares at National stock exchange

Suzlon, DLF, NHPC, Adani Ports, ONGC, Sun TV, Axis Bank, IOC, PNB & Infy.

Weak future stocks  at NSE

HDIL, Opto Circuits, IVRCL Infra, ,Raymond, Hexaware, Guj Fluoro, Exide Ind, Colpal, Bharat Forge & Ranbaxy.

If you like our post than do not forget to refer our free Stock in News website to your friends and colleagues.

This article was first published on Indian-Share-Tips.Com on 03 Feb 2013 & we will seek your support to share the post if you found it interesting and spread the good word.