Risk averse traders can exit their longs, so that they can enjoy their New year without any tension as this is an expiry week which is generally marred with volatility. All those who have a penchant for the risk can be long as Nifty has given a breakout and can target 5400 levels. Sensex remaining above the psychological barrier of 17000 is a great bullish sign.
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When one analyses the derivative front, one will find that implied volatility has increased by around 200-300 basis points on the option front which means that market may remain very volatile as the expiry of December contracts nears.
The support and resistance for the indices is as following
| Indices | Support | Resistance |
| Nifty | 5100 | 5215-5250-5387 |
| Sensex | 17000 | 17500-17888 |
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The trade was not initiated as stock opened at a gap up of Rs 10 and we know that a retail investor would not have had entered in the stock as share price sky rocketed after that and thus they need not worry as their subscription will be accordingly extended.
Day Trading Tips Results
| Stock | Profit (Rs) |
| Tip1 | 130 |
| Tip2 | 1270 |
| Tip3 | 3210 |
| Tip4 | 1100 |
| Tip5 | 190 |
| Tip6 | 3200 |
| Tip7 | 780 |
| Tip8 | Trade not initiated. |
| Tip9 | 385 |
| Tip10 | 790 |
| Tip11 | Trade not initiated. |
F&O Tips Result
| Stock | Profit (Rs) |
| Tip1 | 6420 |
| Tip2 | 3450 |
| Tip3 | 2600 |
| Tip4 | 11233 |
| Tip5 | 8850 |
| Tip6 | Tip not initiated. |
Strong futures
Hindalco, Sail Ltd, Suzlon, Tata Motors, Tata Steel, Ispat Industries, Sintex, BEML, Sesa Goa & NTPC.
Weak futures
Andhra Bank, JP Associates, Tata Comm, Colpal, Corporation Bank, Ashok Ley, Unitech, Pir Health, IDFC & FSL.
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