We have to be cautious as of now as short covering can not be ruled out by virtue of expiry nearing on coming Thursday and thus do not blindly short in the market. Till the time level of 5339, a ray of hope exists and blood bath will not occur in the market. If the Nifty fails to hold the 5420-5430 level tomorrow or on the day of expiry than we may see Nifty falling to the levels of 5340-5300. The market breadth is negative as among 2806 stocks traded on the BSE, 1512 stocks have declined while 1180 advanced.
Market volatility always provides attractive day trading opportunity for day traders and that is the reason traders who use share tips intraday for day trading purposes always make money in the market. Volatility helps one to ride on the wild swings in the market. In the same breath investors are also getting quality investment opportunities as none can beat if one can hold the stocks with some time frame in the mind.
Christopher Palmer of Gartmore Investment Management has stated that inflation will be a drag on the economy simply because India is growing so fast and its infrastructure is unable to handle the load placed on it today and we without any doubt agree with each word expressed as Reserve bank of India has to give the signal when it is going to stop its CRR hikes.
Commodity Tip
In news bullish to oil, Goldman Sachs and Morgan Stanley have increased their oil price forecasts. While Goldman upped its 12- month price target for Brent crude to $130 a barrel from $107, Morgan Stanley revised up its target to $120 a barrel for this year. The price of gold is steady near $1,520 amid lingering worries over the euro zone debt situation and weak U.S. dollar. Gold for June advanced to a 3-week high, gaining $5.20 to $1,520.60 an ounce. However in our view we are bullish on gold as dollar’s recovery is temporary and we forsee crude being under pressure and is likely to stay in the range of $90-105.”
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Support and Resistances for the Day
Indices | Support | Resistance |
Nifty | 5339 | 5470-5500 |
Sensex | 17834 | 18250-18350 |
Jackpot Tip Profit
Stock | Profit (Rs) |
Tip | 1850 (Rs 50,000 Trading) |
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Intraday Trading Tips
Share | Gains (Rs) |
Tips | 43470 |
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Future and Options Daily Paid Tips
NSE Nifty 50 Stocks | Made Money (Rs) |
Tipz | 68680 |
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Strong future shares at National stock exchange
Raymond, Mundraport, Dish TV, Indian Hotels, BEL, BankofIndia, Sterling Biotech
Weak future stocks at NSE
Auro pharma, Punj Llyod, Container Corp, Bharat Forge, GTL,Ruchisoya, MRPL,PTC, GtlInfra, NTPC, Sesagoa, Aloktext, Adani power, Hotelleela, AREVAT&D, HCC, BajajHind, OFSS, Sreiinfra, Tataglobal, DLF
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