As we stated yesterday that a dead cat bounce back is not ruled out and same happened on the back of strong GDP data. Buoyed by good performance of agriculture and manufacturing, the economy grew by 8.9% in the second quarter, up from 8.7% in the year-ago period.The core infrastructure industries grew by 7% in October against 3.9% year-on-year and 2.7% in September, helped by cement and crude oil sectors. No doubt market is oversold however technically as per charts and other indicators Nifty is still in down trend. Thus one can see sideways movement in market for few days and if Nifty is able to sustain itself above the level of 5750, than a gradual recovery may be seen in the market. However do not worry and make real money in market by using the tips which are followed by brokers and professionals to trade and make money in the market.
Indian market today closed higher for a second consecutive session on Tuesday , as robust second-quarter GDP data helped spur bargain hunting. An overwhelming response to Manganese Ore India initial public offering, which was subscribed about 12.4 times on the third day of issue today, also boosted sentiment. To be precise till now MOIL IPO has been subscribed 28.33 times on day 3. .Despite a very adverse base effect from last year, the Indian economy grew a much higher-than-expected 8.9% in the July-September quarter versus the previous quarter's upwardly revised 8.9% rise and economists' forecasts of around 8% after factoring in the recent slowdown in manufacturing, government data showed today. After trading in the red in early trading, the 30-share BSE Sensex recovered sharply to hit a high of 19,610 before paring some gains and ending up 116 points or 0.6% higher at 19,521, with 19 of its components closing in the green. Likewise, the broader Nifty eased a little bit from the day's high to end up 33 points or 0.56% at 5,863. Sensex recouped from day's lows on better-than-expected economic growth. It closed at 19,521.25 points. Nifty settled at 5,862.70, up 94.35 points.
Analysis of derivative segment data suggests that 6.50 lakh shares were added in open interest with a significant increase in the cost of carry, indicating long positions building up on every attempt of the bears to pull the market down. On the options front, implied volatility decreased marginally, indicating a positive bias for the market.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5725 | 5900-5970-6020 |
| Sensex | 19165 | 19770-19990-20050 |
| Stock | Profit (Rs) |
| Tip | 2465 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 43560 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 60780 |
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Bharti Artl, Lupin, Dish TV, Hero Honda, Indus Ind Bank, TCS, Dr Reddy, Idea, GE Shipping & Tata Motors.
Weak future stocks at Bombay Stock Exchange
India Info, HCC, LIC Housing, HDIL, Finan Tech, RCOM, Punj Lloyd, KS Oil, EKC & FSL.
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