Share Market Tips for Day Traders | Indians | NRIs
Thus the positive trend is likely to continue as it was a soothing positive technical bounce back and same can also be attributed to FIIs positive move to cover their shorts.
Definitely shorts have been squeezed and longs had a party time. A word of caution is that the this upmove of yesterday can be a flse move also and thus maintain a strict stop loss. One can exit all longs if Nifty breaks level of 4499
| Index | Support | Resistance |
| Sensex | 15499 | 16161 |
| Nifty | 4599-4648 | 4785 |
We are not giving any result analysis for the tips as we were also in the league expecting a negative move in the market and thus our tips were way below the entry price and max trades were not initiated..
Reason to Cheer
Mr. A. Raja, telecom minister told that he has requested all operators to reduce the termination charge by 2010, and this will help to lower the tariffs further. Local call charges can come down to as low as 10 paise a minute and STD charges to just 25 paise, if this happens.” The termination charge is the levy paid by one operator to another on whose network the call ends.
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Stock News of use for traders
- Reliance Communication to launch 1 paisa/sec plan across India for all calls
- Exports drop by 13.8% in September Mahindra Tractors sales rise 21.38% in Oct
- L&T bags Rs 6,897 cr order from Mahagenco
- Tata Motors launches SUV Range Rover
- Vishal Retail signs pact for Rs 730 cr debt revamp
- State Bank of India has informed the market that they have decided on the Stock Swap ratio for SBI takeover of State bank of Indore. For every 100 shares held in its smallest subsidiary State Bank of Indore , the shareholder will get 34 shares of the SBI.This was after they decide on October 31st that SBI will acquire State Bank of Indore on stock Swap Ratio.
- Power Grid has announced that it will raise Rs. 30.00 bn through bonds by January next year. The Company is also seeking loans of Rs. 87.50 bn from the World Bank and the Asian Development Bank to fund upcoming transmission projects in the country. (BS)
• ABG Shipyard has posted a 76% growth in its quarterly net profit, helped by Government subsidy and higher other income. The Rs. 460 mn net profit was posted on the back of Rs. 3.35 bn revenues, a growth of 29.5% over the previous year period. (ET)
• Godrej Consumer Products is looking at several acquisition opportunities globally and has earmarked a budget of Rs 10.00 bn for the purpose. (BS)
US stocks erased most of a 156- point rally in the Dow Jones Industrial Average after a House bill to curb credit-card rates spurred concern about bank earnings, outweighing the Federal Reserve’s plan to keep interest rates at a record low. The Dow Jones, S&P 500 and NASDAQ gained 0.31%, 0.10% and 0.09%, respectively. Wells Fargo & Co., JPMorgan Chase & Co. and Citigroup Inc. led financial shares to the steepest loss among 10 industries as the vote moved up the start date of many rule changes that will make it more difficult for lenders to raise rates on existing credit cards.
The benchmark FTSE 100 gained boosted by a rebound from miners and banks, with retailers Next and Marks & Spencer also ended higher after posting forecast-beating figures The FTSE 100 Index advanced 70.68 points, or 1.40%, at 5,107.89. A rebound by mining stocks added the most weight to the blue chip rally, reflecting a rise in metal prices on the back of a weaker dollar. Banks recovered from Tuesday's sharp falls as investors re-evaluated the outlook for the sector following the GBP 31 bn in funding from the government agreed for Lloyds Banking Group and Royal Bank of Scotland.
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