The last closing on Friday brought cheers for the petro companies and same is attributable to price hike in diesel by Rs. 2 per litre, LPG and Kerosene got a hike of Rs. 35 per cylinder and Rs. 3 per litre respectively. As a net result Oil PSUs shares of India gained the limelight and skyrocketed and we saw a massive move in stocks namely HPCL, BPCL, IOC and ONGC surging 14%, 12%, 10% and 6% respectively. Though in short term it may appear that govt is being harsh on the common man; however we have to take this step to be able to compete globally. How long we can subsidise the products which are being sold in black market at phenomenal profits. We see cylinders being sold at a profit margin of Rs 200 and same is taking advantage of subsidy. Once it gets deregulated at least kalabaazari will get away from our system.
As of now market is broken the key support of Nifty 5330 and 5300 also and we will be in a down trend grip till the time it moves above 5330 with volume. Thus make sure that one do not blindly follow any rumour mongering stocks and now trade PSU oil stocks with caution as euphoria will die soon and re-enter for longer time frame when the dust settles to gain from final deregulation which may take one more election to happen. Thus if one really wants to make money daily in market than trade less but trade accurately with hot share which is based on reliable source and helps traders get handsome gains daily in the market. information of reliable sources who get paid by us. It is correctly said that quality comes at a price and for getting good tips we have also rewarded our sources handsomely. Their is no harm in paying to get good advice else one will lose his capital also. BSE advance-decline ratio stood at 1:1.5. As a strategy for the time being one should go long in Nifty only when it crosses above 5330 level with volume.
Analysis of derivatives data suggests a bears upper hand however not to worry as buying will emerge at lower levels and same is attributable to increase in the open interest with an increase in the cost of carry and further analysis of option front data suggest that , the implied volatility has decreased marginally which means that buying will continue to emerge at the lower levels.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5214-5167 | 5330-5393-5417 |
| Sensex | 17400-17240 | 17775-18356 |
| Stock | Profit (Rs) |
| Tip | 1745 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 26560 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 48765 |
Click Here to Subscribe for Daily NSE Future and Option Tips Strong future shares at National stock exchange
Hind Petro, GTL Infra, BPCL, BRFL, RCOM, RNRL, Orchid Chemicals, Dish TV, ONGC & Bajaj Auto
Weak future stocks at Jeejeebhoy Towers - Bombay Stock Exchange (The Phiroze Jeejeebhoy Towers is a 28 storey building in downtown Mumbai, at the intersection of Dalal Street, Bombay Samachar Marg and Hammam Street)
Grasim, HCL Tech, DCHL, Corp Bank, India Cement, Mphasis, PFC, PTC, Orient Bank & Hind Zinc.
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