Indian market have provided a surprise relief rally and credit for same goes to smart HCL tech result and add to it we had positive set of cues from global peers. HCL tech reported robust Q3 earnings and forecast improvement in margins in the April-June quarter. Moreover good news in form of normal monsoon forecast, also supported the market. The sector which is affected a lot on monsoons is the financial sector as its prospects depends a lot on farm output in the country and this is determined by rain forecast. Now we need to watch TCS with its result round the corner and we are expecting good results and thus tone of the market will remain positive.Companies named in 2G telecom scandal suffered due to Court rejecting bail pleas of their executives. Accused are Sanjay Chandra, Vinod Goenka and 3 Reliance ADAG Executives. ADAG executives are Gautam Doshi, Hari Nair and Surendra Pipara. Overall market breadth was positive with 1962 advances against 951 declines. Do remember to check the hot stocks and make money as real movement in Nifty will be seen as and when Nifty crosses Laxman Rekha of 5900 which will take the rally to the level of 5980. However keep an eye on level of 5735 which if broken means that down trend will again commence in the market. TCS has been performing better on a relative basis than Infosys for a sometime and we believe that rally should continue tomorrow.
Commodity Tips
Commodity market saw gold shooting above $1,500 mark an ounce for the first time ever as worries over the outlook for the U.S. economy boosted the metal as a safe haven, while rising inflation lifted Asian demand. In the short term, losses in the dollar are supporting the precious metal above $1,500 an ounce. Higher oil prices tend to benefit gold, both because they can boost commodities as an asset class and lift interest in gold as a hedge against oil-led inflation.Global crude steel production in March has gone up by 7% year-on-year to 129 million tonnes (MT) in which India contributed only 6.35 MT, according to World Steel Association (WSA). China's crude steel production for March was 59.4 MT, up 9% as compared to March last year. If we have to match with China than we have to definitely get our act together and increase steel production and demand as it is a reflection on the growth of the country.
Home Loans have Become Costlier
Amid concerns expressed by the Reserve Bank, country's largest lender State Bank of India (SBI) today announced withdrawal of special home loan schemes, or teaser rates, with effect from May 1. SBI Easy Home Loan and SBI Advantage Home Loan (teaser rate products) will be replaced by floating interest rate schemes on par with other commercial banks. The home loan from SBI will now attract an interest rate of 9.5% to 10.25% depending upon the loan amount. Thus you have a few days left to jump and catch the teaser home loan rates. If you have been waiting for a cheap home loan than teaser home loans were the best bet and still it is available for 10 more days. SBI has also launched the SBI Advantage Car loan Scheme, under which credit would be provided at 10.75% for a maximum period of 7 years.Click Here to Get Free Stock Market Tips in Email
Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5815-5800-5,790-5767-5735 | 5900-5915-6030 |
| Sensex | 19300 | 19650 |
| Stock | Profit (Rs) |
| Tip | 2830 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 42590 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 65470 |
Strong future shares at National stock exchange
DCB, STR Tech, Ibrealest, Suzlon, BGR Energy, Bhushan Steel, Vijaya Bank, JP Power, Jindal SWHL & Sintex Industries.
Weak future stocks at NSE
Infosys, PFC, National Aluminium, McDowell, Unitech, Recltd, IRB, Piramal Health, Core Protect & Sun TV.
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