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As we had suggested in yesterday shares tips, it was clearly stated that market has already reacted to the news of hike in rates by RBI and thus one should avoid blindly shorting and thus we saw a positive movement in market on the back of positive sentiment in global markets. Do remember to check out intraday trading tips and make money like a professional as the aim is to trade less but trade accurately and make money in any type of market. Short tem technical indicators suggest movement of market sideways or with a negative bias.RBI Credit Policy Review
Reserve bank of India has hiked the CRR by 25 BPS to 6% from 5.75% and has even raised the Reverse Repo Rate by 25 BPS to 3.75% from 3.5% and Repo Rate to 5.25% from 5% . Reverse Repo Rate and Repo Rate hikes are with immediate effect while CRR hike is from 24 April. RBI Credit Policy review is going to benefit Maytas Infra, IDFC and SREI Infra. Another thing beneficial for the infrastructure companies is that RBI has allowed banks to classify their investments in non-SLR bonds issued by companies engaged in infrastructure activities and having a minimum residual maturity of seven years under the held to maturity category.
Derivatives Market in India
Derivative segment analysis suggests that one can observe the decrease in cost of carry and same means that still traders are not willing to go long and fresh short positions are being built. Analysis of option front data reveals that implied volatility has decreased by around 150-250 basis points and same shows that Nifty 5200 will act as a good support.
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Indices | Support | Resistance |
Nifty | 5200-5122 | 5380-5451 |
Sensex | 17400-17133 | 17500-17662 |
Stock | Profit (Rs) |
Tip | 3275 (Rs 50,000 Trading) |
Intraday Trading Tips
Share | Gains (Rs) |
Tips | 35540 |
NSE Nifty 50 Stocks | Made Money (Rs) |
Tips | 47730 |
Strong future
Pir Health, GE Shipping, Allahabad Bank, Titan, Andhra Bank, Ansal Infra, Indian Bank, TV-18, Polaris & Rel Infra.
Weak futures
Triveni, Renuka, Sail Ltd, BEL, ONGC, Punj Lloyd, Tech Mahindra, Hind Petro, Uniphos & McDowell.
Financial News Impacting Indian Stocks
Hike in repo may not push up interest rates: India Inc
Govt lost Rs 71,255 cr on rebates, exemptions in FY'09: MoS Finance
Bank financing needs to reach $5 trln - IMF official
World Steel sees demand at pre-crisis levels in 2010