A remarkable day for the market and same is visible in Nifty futures closing with a premium and open interest going down by 2.4%, and it shows that bears are squeezed and people are going for short covering. Nifty is in uptrend, however one can not be complacent as market is just a few points in terms of multiple of hundred is away from its previous peak. Now all eyes ate on the advance tax figures for all the companies as it will show that how companies have been faring and whether it 
can sustain the economy or not as today was the last date for advance tax payment for this quarter. We hope that you are not into the type of things as shown in the cartoon for the stock market or as a matter of fact for any of the financial instrument. Remember that whenever one need to get into all these aspects like praying for a stock or consulting an astrologer; it means that one is not on the right track for trading and time has come to the time where one can take a break from trading or search for some good stock market advisor whose shares tips can help an individual to recoup the lost money and gain daily from the market.
Analysis of derivative segment data suggests that 17.40 lakh shares were added in open interest with a significant decrease in the cost of carry indicating fresh short positions building up at higher levels. On the options front, implied volatility has further increased by 500-600 basis points indicating uncertainty in the market. It is advisable to avoid over leveraged positions. Besides this do not forget to keep an eye on US data which includes Consumer Confidence, Industrial Production, Empire Manufacturing and Capacity Utilization data. Somebody might ask that how we are affected by these data and answer to it is that now we are not immune from global trends and one need to track them to take bulls by horn.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5700 | 5879 |
| Sensex | 19090-18600 | 19550-19800 |
| Stock | Profit (Rs) |
| Tip | 1230 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 31460 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 45665 |
Click Here to Subscribe for Daily NSE Future and Option Tips Strong future shares at National stock exchange
Dish TV, Opto Circuits, Renuka, IDBI, Apollo Tyre, Canara Bank, Tisco, ICICI Bank, Hindalco & Hdfc Bank.
Weak future stocks at Bombay Stock Exchange
GSPL, EKC, KS Oils, Ivrcl Infra, Hero Honda, RCOM, Orbit Corp, GT Offshore, LITL & Colpal.
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