Indian stock tips for day trading:07 Oct

1. FII Norms reviewed: SEBI has taken a wise step by reviewing the P-Note restrictions and FII structure. This positive move will restor confidence in FII and as a result the capital inflow will commence in India. These norms have been announced by SEBI considering the heavy FII sale as seen yesterday where FIIs sold $9.4 billionworth of equity. It is heartening that to restore confidence in Indian stock market CB Bhave, SEBI chairman stated that FII structure is being reviewed and unnecessary curbs on these FII will be removed. Additionally restrictions on ODI's in derivatives have been removed and restrictions also on only 40% ODI in cash investments are to be removed.He further stated that 40% limit on P-notes will also be removed. SEBI as a watchdog of Dallal street is keeping tab on global situation and only thereafter further norms will be reviewed.

2. Crude Update: Crude has broken all records by falling below $90/bbl.

3. National stock exchange direction tip: As I have suggested that Cash is King and thus one need to wait for next 15 days before the correct direction of Indian stock market will be determined. As a Nifty trader if one has shorted the index than remember to cover the same with stop loss of 3921.

4. Intraday profit from website tips: You can see the strength of technical analysis on this website where even buy recommendation in a falling market generated a profit of Rs 890 in BPCL for every 100 shares traded. Remaining all stocks did not reach the entry price and thus trade was not executed.

4. BSE Strong Future Stocks

BPCL
TVS Motors
HPCL
Hero Honda
Lupin
UBI
Hindustan Uni
PNB
Moser Baer
Indian Bk

5. NSE Weak future stocks

Rajesh Exports
3I infotech
Praj Inndustries
NIIT
Aptech Training
HDCL
Sterlite Tech
JSW Steel
S Kumar
Larsen and Toubro

6. Profitable stock tips of India for day trading

Buy ICICI bank>502.1,513 sl 498.8
Buy BPCL>380.5,383,384.6,389 sl 377.8
Buy ONGC>1015.1,1043 sl 1009.6

Note: I am not suggesting any sell recommendation as any day a technical bounce back will occur and short sellers will be trapped. Wait for the recommended level to enter in a stock and do not be in a hurry.