Nifty is going to see the support coming at the levels of 5600 which incidentally is also close to its 200 day moving average and also a psychological support. Thus one can expect a dead cat bounce back from these levels. However all those traders and investors praying for a pull back finds that Nifty has broken below the 5600 level than they must exit because than Nifty can fall to the level of 5,500-5400. Nifty encounters resistance in its up move at 5825 level.
Technical indicator MACD is crossing the signal line (9 Days Exponential moving average) from the above, which is a bearish indication. However, RSI and Stochastic are staying close to his oversold levels and likely to attract buying sentiment. Nifty continues to be technically in the down trend.
The inflation monster is keeping the market dream sectors (banking, realty and automobile ) under performed due to fear of interest rate hikes. Whenever market slides one should be ready with shopping bag to get the best deals and stocks in the market.Infosys results disappointed the market.
One can straightaway go for hot share tips and make money like equity professionals everyday as every day stock specific movement is seen in volatile market and we feel more the volatility, higher is the profit.
Derivative Segment future Prediction: Analysis of derivative data suggests that 16.63 lakh shares were added in open interest with a significant decrease in the cost of carry, indicating short positions continue to build above 5800 levels. On the options front implied volatility further increased by 100-150 basis points indicating the market will remain volatile going forward and that 5800 on a closing basis may act as a stiff resistance going forward.
Commodity market suggests that gold and crude prices will continue to soar as China demand for crude is increasing and gold will increase by virtue of inflationary pressure. I hope you know that where to dwell money in this segment.
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Support and Resistances for the Day
Indices | Support | Resistance |
Nifty | 5535-5378 | 5882 |
Sensex | 18510-17925 | 19250 |
Stock | Profit (Rs) |
Tip | No tip was given due to indecisive state in market as at times being in the side-line is also a strategy. Now trend is clear. A specialised sell call was given for high risk group clients in Axis bank and it yielded more than 4% profit. |
Intraday Trading Tips
Share | Gains (Rs) |
Tips | No tip given |
Future and Options Daily Paid Tips
NSE Nifty 50 Stocks | Made Money (Rs) |
Tipz | No recommendation given. |
Orchid Chem, Petronet, Unitech, Hindalco, Ispat Ind, Grasim, Tata Motors, TCS, Auro Pharam & Hind Zinc.
Weak future stocks at NSE
LIC Housing, HDFC, Lupin, HCC, Zeel, Sintex, Bajaj Auto, Kotak Bank, HDIL & Dabur.
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