Budget 2010 gave a good start to the market; however reversal near the end of the day is equally alarming.
The correct direction of the market is likely to be visible in the coming few days. We have already given the list of stocks which are going to get benefited by virtue of the budget which was awaited with keeness and same has given positive surprises in the market and a salaried class person drawing more than Rs 3 Lakh is most happy by virtue of the tax breaks granted in the ensuing budget.
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However diesel and petrol are costlier by more than Rs 2 plus and is opening the way where the gap between diesel and petrol is going to be reduced considerably in near future. Keep the given below support and resistances under observation in the Indian stock market.Nifty has to close above the level of 4950 to show some confirmed uptrend. The closing has to be on two consecutive days for Nifty to be able to target the level of 5050. Short term trend is negative in the market and one needs to keep the eye on the volumes being generated by the foreign and domestic institutions and same will give the correct direction to market.
| Indices | Support | Resistance |
| Nifty | 4850 | 4950-4975-4993-5068 |
| Sensex | 16200 | 16714-16965 |
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We had taken a break for 26 Feb to observe the major event in form of Budget 2010 presentation and thus no tips were given for the day. However for the day prior to budget profit generated for Jackpot call was Rs 1430 for Rs 50,000 trading, Day trading gains were Rs 4760 and Future and options tips profit for the day were Rs 11475 by trading one lot.
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Hero Honda, Hindalco, Sesa Goa, Glaxo, Piramal Healthcare, IDFC, Axis Bank, Siemens, Maruti & RecltdWe had taken a break for 26 Feb to observe the major event in form of Budget 2010 presentation and thus no tips were given for the day. However for the day prior to budget profit generated for Jackpot call was Rs 1430 for Rs 50,000 trading, Day trading gains were Rs 4760 and Future and options tips profit for the day were Rs 11475 by trading one lot.
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Strong future Tips at National Stock Exchange
Weak futures at National Stock Exchange
Bajaj Hind, Renuka, EKC, ICSA, FSL, Polaris Software, Balrampur Chini, Dish TV, Tata Comm & BEML.Click Here to Subscribe for Paid Future and Option Tips Plan
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