No doubt it is a jubilation time as market has been able to move decisively above its key resistance and thus we are not very far from achieving the new highs in the market. Still we know that people would not be making money even at these levels as they would have had invested in some odd dud stock and same would not have had moved. Thus advise is to shake out your portfolio and get out of the penny stocks as risk to reward ratio is very high. One will see that blue chips always give more returns ver a long term than midcaps as during any fall blue chips fall is contained whereas midcaps suffer the most during a crash. Make it a policy to invest in blue chips in a systematic manner or else keep on following the money making tips and one will be on the path of becoming another Rakesh Jhunjhunwala with us.
Analysis of derivative segment data suggests that .Volumes in Nifty futures were significantly lower as compared to previous trading volumes. Around 0.65 lakh shares got reduced in open interest with a significant increase in the cost of carry indicating the rally was due to short covering. On the options front, the implied volatility remained almost flat indicating positive bias for the market. BSE advance-decline ratio stood at 2:1. Keep an eye on the US data which is likely to come for ISM Manufacturing, Construction spending and University of Michigan confidence index.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 6050 | 6325 |
| Sensex | 20100 | 20766 |
| Stock | Profit (Rs) |
| Tip | 1455 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 33560 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 44765 |
Click Here to Subscribe for Daily NSE Future and Option Tips Strong future shares at National stock exchange
Orchid Chem, Jindal SWHL, India Info, KFA, DLF, Triveni, Renuka, IDBI, Tisco & Lic housing finance.
Weak future stocks at Bombay Stock Exchange
Finan Tech, Tata Comm, Patni, GT Offshore, Asian Paint, Divi'S Lab, United Phosphoro, BGR Energy, GMR Infra & Hind Petro.
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