One can be safe in the market while trading provided the level of Nifty 5665 sanctity is maintained. as the adjacent Nifty chart suggests that 5600 level of Nifty will appear as a crucial support and if this level is broken than be ready for 5500-5300-5100 levels. So all i well till the time this level is sustained. If one is daily trading in stock market than one has to have a reliable guide on whom one can fall back and confide the trades executed as an introspection is a must to make progress in trading and rising to the highest levels of day trading at Dallal street or as a matter of fact at National stock exchange. HCL tech stole the show for the day with tremendous results and thus opened at a phenomenal gap up and it incidentally happened to be our Jackpot tip and thus the trade was not executed at our end and subscription was extended for the traders. HCL Technologies climbed nearly 4% on surpassing expectations with a 34% rise in its second-quarter consolidated net profit.
After fluctuating between gains and losses in early trading, the benchmark 30-share Sensex slipped to a low of 18,899 in the afternoon on the back of heavy selling in capital goods, IT, telecom, oil/gas and consumer durable stocks. However, short covering at lower levels helped the Sensex end off the day's low at 18,978, down about 115 points or 0.60%, while the 50-share Nifty ended down 33 points or 0.58% at 5,691.
Derivative Segment future Prediction: Analysis of derivative data suggests that 7.94 lakh shares were added in open interest with a substantial decrease in the cost of carry, indicating short positions continue to build up above 5700 levels. On the options front implied volatility decreased marginally, indicating we may see some pullback in the market going forward.
Stock of the day : a ray of hope
Hindustan Construction Company rallied 3.64% after the environment ministry, which had halted construction of its Lavasa project, citing lack of environmental clearances, said it would consider the project on merits with the imposition of certain terms and conditions. We know Jairam, minister for environment has a history of going back on his words and it is very likely that project will get through and in that scenario, we will see HCC hovering at 3 digit mark. It is correctly said that higher the risk and higher is the gains.
Iran Oil Crisis Update
Iran is selling crude oil to Indian refiners on open credit after the Reserve Bank of India closed the Asian Clearing Union (ACU) route, a move that effectively bars settlement in US dollars and the euro.
Cabinet Reshuffle
A cabinet reshuffle on Wednesday saw only minor tweaks as PM Singh stepped back from a major reshuffle that would have revamped the image of a government hit by graft scandals and year-high food inflation. Most probably major reshuffle will take place after the Feb budget session where Chidambram might leave Home Ministry.
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Support and Resistances for the Day
Indices | Support | Resistance |
Nifty | 5670 | 5733-5800-5836 |
Sensex | 18900 | 19350-19500 |
Stock | Profit (Rs) |
Tip | The Main Call was not executed due to stock opening gap up. However bonus call given as a free call yielded Rs 1310 profit for Rs 50000 trading. |
Share | Gains (Rs) |
Tips | 32450 |
NSE Nifty 50 Stocks | Made Money (Rs) |
Tipz | 43700 |
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Strong future shares at National stock exchange
Ispat Ind,HCL Tech,TV18,Jindal Saw,Hexaware,Petronet,TCS,Polaris,Opto Circuits & Ruchi Soya.
Weak future stocks at NSE
IVRCL Infra,Jet Airways, Zeel, Pantaloon,Orbit Corp,Jindal Swhl,Rel Media,HDIL,Patel Eng & Sintex.
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