As of now we are getting mixed signals for Nifty movement and till the time level of 5400 is held, we need not worry as an uptrend will remain in force which will take Nifty to the levels of 5510-5600. However on the negative side keep an eye on magic level of 5339 which if broken means that Nifty can fall to the level of 5325-5282-5250-5177. The markets will be in consolidation state before giving any fresh break out. should take a breather now. The market is lacking buying support and IPOs are also being postponed due to aggressive pricing by the promoters. The market breadth was positive with 1713 advance against 1078 declines and thus it makes sense to trade with indian share market and make daily profit making a religious habit.If we see the background to this steep fall we will find that market got into bear trap since the first week of April 2011 and the Nifty has seen a steep correction from high of 5944 to 5328 since then. Positive trend is likely to emerge overall in the market wef July 2011 onwards by virtue of economic reform and likely commodity prices easing. However inflation is one monster which RBI has not been able to control and thus we may see another hike by RBI in coming months. On the negative side capex lending is slowing down that will lead to the industrial production numbers coming off so there are strong reasons to believe that a meaningful GDP slowdown is around the corner.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5450-5400-5325-5282-5250-5177 | 5564 |
| Sensex | 18100 | 18560 |
| Stock | Profit (Rs) |
| Tip | 1320 (Rs 50,000 Trading) |
Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 27690 |
Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 45920 |
Strong future shares at National stock exchange
Crompton Greaves, Max India, GSK Pharma, Chennai Petro, Ranbaxy Labs
Weak future stocks at NSE
Power Finance, Cipla, Ashok Leyland, Gail, Hero Honda
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