State of Indian Market Today:Daily Market Review Indicators | Buy and Sell | BSE Sensex
Banking and metals stocks were the worst performers and as a net result BSE Sensex closed at 16,696, down 154 points or 0.91% from its previous close, while the S&P CNX Nifty fell 51 points or 1.03% to 4,953. To sum it up we can say that flat global cues and profit booking were the culprit for today weak session which even discounted good IIP data. Only saving grace has been good October subscriber numbers which sustained telecom stocks.
Indices | Support | Resistance |
Sensex | 16667-16411 | 16860-17030 |
Nifty | 4900-4860 | 5044 |
Derivative front Update
Nifty call option added 17.50 lakh shares in open interest, whereas put option shed 4.50 lakh shares in open interest. Around 1.90 lakh shares were reduced in open interest with decrease in the cost of carry, indicating profit booking by long traders. On the option front, implied volatility has increased marginally, indicating that volatility will continue in the coming trading sessions.
Jackpot Tip Analysis
The tip was not initiated due to poor condition in the mkt. Readers and subscribers will appreciate this fact that at NSE when we were ready to execute the tip; it fell short of our entry price by 05 Paisa and it reversed. Thus with us you will never enter in a wrong stock as our jackpot stock tip is a masterpiece in itself.
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Do You want Longer Trading Hours in India?
Well the said question has been answered post SEBI has formally allowed stock exchanges in India to extend market trading hours by two hours every day. ANMI has conducted an online survey to gauge the opinion of the member brokers and investors at large. Over 800 brokers were surveyed of which 50% did not respond and over 64% do not want longer trading hours.
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Day Trading Tips Analysis
Stk mkt is supreme and contrary to expectations it tanked. However not to worry as our tips are designed in such a manner that the tips are not triggered in adverse situations and thus the traders do not enter in a loss making proposition.
Stock | Profit (Rs) |
Tip1 | 1100 |
Tip2,3,4 | Not Initiated |
Tip5 | 295 |
Tip6 | Not Initiated |
Tip7 | 370 |
Tip8,9,10 | Not Initiated |
F&O Trading Tips Analysis
Stock | Profit (Rs) |
Tip1 | 1650 |
Tip2 | 3262 |
Open Loot of Public | Deceit by Pyramid Saimira Theatre
Securities Exchange Board of India (Sebi) today barred Chennai-based Pyramid Saimira Theatre Ltd (PSTL) from the stock market for seven years. The order came after Sebi investigated allotment of the company’s shares reserved for employees in its December 2006 initial public offer (IPO). Sebi said the company reserved 422,200 shares for its employees but allotted 98.5 per cent of these to seven people who were not its employees.
“There is no evidence of employment in terms of attendance and payment of salary and provident fund in respect of these seven persons. They could not have become employees given their qualification and experience,” Sebi said in a note.
Well we will call this as a classic case of forgery with open eyes. However it is said that Nakal ke liye bhi Akal chahiye and probably these fraudsters deserved the requisite watch dog which has bitten this time.
Point to Ponder
As a parting note we will just say that one need not be greedy as one will make many more trades throughout the session and many more throughout the next trading sessions. Opportunity exists in the marketplace all of the time. As a matter of fact remember that no one trade should make or break your performance for the day. Don’t be greedy.
Indian Market News of Value
- Shree Renuka Sugars acquires Brazilian company.
- Bajaj Holdings gets approval from RBI for NBFC business.
- Educomp has moved to new model of free cash flows- JPMorgan.
- Lodha Developers hopes to launch IPO in Dec.
- Markets find India attractive: Jim O’ Neil.
- Tata Chemicals increases stake in Rallis India.
- Barclays profit plummets 54% in Q3 period.
- NTPC plans to establish 2,640 MW facility in Madhya Pradesh.
- Alstom Projects secures order worth Rs 365 crore from Hindalco.
- Google, MTNL to joinly bid for WiMAX spectrum.
- India key mkt for future, small car on the anvil: Honda.
- Bhel bags Rs 91 cr contract from UK firm.
Dollar Index makes 15 month low at 74.83. Dollar fell as growing industrial production and retail sales in China boosted demand for higher yielding assets.
The yen climbed against the dollar and euro after Japanese machine orders rose more than forecast
Commodity Update
Oil Prices Gain on Weak Dollar.
Goldman Sachs is forecasting that gold prices could reach $1200 by year end.
Global News
BRIC nations to lead IPO recovery: E&Y
Job Update
Adobe to cut 680 full-time jobs worldwide
Technology Update
Nokia has released as many as 3 new CDMA mobile handsets in China, the Nokia 3806, 1506 and 6316s. The final new phone, the 1506, is Nokia's most cost effective CDMA handset so far. We always wished if Nokia could also launch CDMA sets in India or can atleast launch dual sim sets in India so that one need not run for these cheap handsets provided by Chinese market.
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