As the stock market cartoon depicts that the economic data can be fudged and same happened this time with Indian GDP data which was shown wrongly and was later corrected following uproar from the market experts and same was corrected siting wrong data crunching numbers by the economists. How can we go the China way whop deliberately show wrong growth trajectories to fool the world and at the end they are caught as the energy being used in a country is correct depiction of an economy growth.
It gives us pleasure to inform the users that technology is now going to help them trade online through their mobiles also and thus a roaming population or people struck in offices will be now able to trade through their mobiles wef Oct 2010. NSE is now taking steps towards facilitating nearly 800 members and their clients (total of 1.2 crore investors) to trade through the mobile infrastructure and the trading over mobile phones will be similar to Internet trading. This is being made feasible by virtue of NOW software that NSE provides to its brokers free of cost. The market data will also be provided free on brokers' mobiles and later on investors' cell phones. The NOW platform will be connected to the Internet National Exchange of India, which will be connected to the service providers. These, in turn, will be connected to mobile towers and then to mobiles.Connectivity for cellphones will be as fast as high-speed Internet through BSNL, Airtel and Tata. People who have low-end phones with GPRS connections can also use this facility, which means that 99 per cent of mobile users will be covered. Thus technology i going to increase people participating in stock market by leaps and bounds. Our Kudos for NSE for taking a breathtaking advances in removing the difference between a normal retail trader and HNI trader who has access to all know how and can manipulate the system. We provide a standing ovation for the thought process which we have been advocating through our financial website cum weblog for a long time. Thus better late than never and the exchange has taken steps to bring mobile trading on the mobiles for end users.
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Analysis of derivative segment data suggests that .3.88 lakh shares have been added in open interest with an increase in the cost of carry and it shows that long positions are being built at lower levels. On the options front, implied volatilities has decreased marginally and it shows that buying may continue to emerge at lower levels and that 5400 - 5450 will act as a good support levels going forward. BSE advance-decline ratio stood at 1.3:1. Analysis of advance decline data shows a clear picture where market is heading in future, however same can not be taken as a gospel truth as global markets do cast an effect on the Indian markets.
Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5470-5450-5288-5265 | 5510-5540 |
| Sensex | 18200-18150-17650 | 18356-18356-18390 |
| Stock | Profit (Rs) |
| Tip | 1980 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 38660 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 49765 |
Apollo Tyre, Ruchi Soya, BEML, KFA, UCO Bank, Dish TV, TV-18, Tata Chem, Hotel Leela & Allahabad Bank.
Weak future stocks at Bombay Stock Exchange
Chennai Petro, Hero Honda, Sesa Goa, Reliance, Hind const, Orbit Corp, Punj Llyod, ABG Ship, JP Associates & Patel Engg.
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