Bulls must be rejoicing at the Dallal street with Nifty and Sensex showing a consecutive sixth day gains in the market. Market has gone up by close to 1,300 points, or 7.2%, and a great buying has been seen in auto, tech and metal sectors. Worldwide also it has been seen that negative news has been kept to a side a and upswing commenced owing to bargain buys, and sobering oil prices, People have reconciled to the Japanese disaster of March 11 which has shaken investor confidence and sentiment globally. However market breadth remained fairly negative, with decliners outpacing gainers by 1843 to 1110 shares on the BSE. Thus seeing the trend in the Nifty one can say that Nifty has established its support at 5200 levels and thus one can say with confidence that Nifty in any near term scenario will not breach this level. As a strategy to continuously make money trade in specific stock tips and do book partial profits in stocks which have given us 10-15-20% returns in a short span of time and enter in those midcap stocks which have been laggards in the market and are available at reasonable valuation. One may see profit booking once Nifty breaks past 5800 level and till that time the Nifty is going to be range bound. A fresh leg of move commences in Nifty once it sustains above 5800 level with volume. However in short term if Nifty breaks 5704 level than one has to be ready for profit booking bout in the market.
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Support and Resistances for the Day
Indices | Support | Resistance |
Nifty | 5680 | 5757-5826 |
Sensex | 19000 | 19202-19403 |
Stock | Profit (Rs) |
Tip | 2630 (Rs 50,000 Trading) |
Share | Gains (Rs) |
Tips | 45890 |
NSE Nifty 50 Stocks | Made Money (Rs) |
Tipz | 64790 |
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Strong future shares at National stock exchange
STR Tech, LIC Housing, DCHL, ALBK, Yes Bank, Hind Oil, Bata India, ABB, Hexaware & DLF.
Weak future stocks at NSE
Mphasis, Patel Eng, Nat Alum, Pir Health, Renuka, Suzlon, Ranbaxy, Aurobindo Ph, Areva & Punjlloyd.
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