One has to trade with due diligence as market is showing a range bound trend and real bull trend can commence only once Nifty breaks past 5600 level with conviction where peak is capped at 5850. On the shorter time frame Nifty has a support at 5400 levels. Thus in such type of scenarios trading with sure shot calls is the best bet as it comes with reliable information and thus it will produce the profit for day trader in the market.Fears of another hike in interest rates by the Reserve Bank of India in its monetary policy review is imminent and we see a 25 basis points hike as RBI has to be hawkish to keep the inflation under control. Technically Nifty is showing a downward bias and same is visible in the chart for the Nifty for past 5 days. Out of 2,939 stocks traded on the BSE, there were 1,438 advances stocks as against 1,379 declines. To put it in straight words as of now market is trend less and direction less. Select momentum indicators continue to favour the bears.
Oil Minister S Jaipal Reddy told reporters that a panel of ministers will meet shortly to discuss a possible hike in diesel, cooking gas and kerosene prices, "The oil companies have already lost Rs 45,000 crore in this financial year and are losing Rs 450 crore everyday (on sale of subsidied fuel) and thus this meet is likely to happen soon.
Gioanni Bisignani, CEO, IATA has correctly stated that we should not further delay merger of human resources of the two erstwhile carriers else it will become a mess as Indian Airlines and Air India have many salary grades and same needs to be integrated else again it becomes a nightmare. We have suffered at their hands when once our flight was cancelled by Air India and Indian Airlines counter refused to entertain us stating that human resources have not been integrated as yet.
Imp Update for Reliance
RIL shed 1.8% at Rs 926 as the markets apparently gave a thumbs-down to its decision to buy Bharti Enterprises’ stake in two joint ventures with France’s AXA. Now one just need to keep an eye on its support of 900 which if broken means that Reliance will crash and along with it Nifty will also crash. Thus keep an eye on the magic level of 900.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5350 | 5500-5564-5600 |
| Sensex | 18000 | 18360 |
| Stock | Profit (Rs) |
| Tip | Tip was not executed due to stock price not reaching the entry price level. |
Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 21840 |
Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 38790 |
Strong future shares at National stock exchange
Punjlloyd, Titan, Karnataka Bank, Bata India, Max India, Alok Ind, Dish TV, Raymond, IRB & Divis Lab.
Weak future stocks at NSE
Sun TV, KS Oils, Bhushan Steel, Tata Motors, DCHL, Escorts, LITL, STR Tech, Jain Irrigation & BEML.
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