Indian stock markets saw a sell off due to global market worries, however recovered major losses during the course of the day and we saw Nifty 4960 emerging as a major support. BSE advance-decline ratio stood at 1:1.6. Derivative data analysis suggests that long positions are being built at lower levels and increase in option volatility suggests that we are going to see an increase in volatility in the days to come.
Reason for share Price Increase
L&T’s quarterly profit increases 44% in Q4 FY10 saw a spurt in its price, ABB stake increase open offer by its parent company saw a sharp spike in the price of ABB.
Indian IPO Information
SJVN Ltd (ISIN: INE002L01015) is going to list on Thursday, May 20, 2010 and its issue price has been fixed as Rs 26/- per share. IPO was oversubscribed by 6.64 times (3.1160 times in retail). 
Be cautious because if the level of Nifty 4059 is broken than again we see a quick 60 points fall. However be cautious of the dead cat bounce which generally takes place. Our F&O traders have a good strategy to make money at these levels.
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Support and Resistance
| Indices | Support | Resistance |
| Nifty | 4992-4950 | 4992-4950 |
| Sensex | 16683 | 17025-17240 |
| Stock | Profit (Rs) |
| Tip | 1670 (Rs 50,000 Trading) |
Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 21320 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 38965 |
EKC, Glaxo, Dena Bank, Ashok Ley, ABB, Tata Tea, UCO Bank, PFC, Titan & Vijaya Bank.
National stock exchange weak futures
Aban Off shore, RNRL, Punj Lloyd, Educomp, Tata Steel, MTNL, Bhushan Steel, Renuka, RCOM & JP Associates.
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Power Sector Update
Augmentation of power by 20,359 megawatts in FY11 aimed by India
Financial Newsletter
Reliance Communications net profit soars 10.13% in Q4 FY10
Bihar plan outlay up 40pc at Rs 20K cr.
Plan to tap forex reserves for funding infra projects pays off.
Bank arbitrage narrows currency spread.
GAIL sees $1.8 bln capex in FY11.
GM posts Q1 profit, IPO possible in next year.
EU ministers eye reforms as markets buffet euro.
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