As of now Nifty is stuck in the range of 5,500-5700 as we are seeing one day up and second day down and now it appears that light is visible at the other end of the tunnel as market will now take cues from two main events namely Reliance Industries earnings on Monday, and the Reserve Bank of India's tightening policy on Tuesday which is likely to be a 25 basis points hike at least and market is anticipating the same. Thus it is in the best interests of the traders to trade with best stock picks which will yield the results during the course of the day and it fulfills the requirement of undertaking a stock specific approach in the market. equities. The market breadth was positive; 1715 stocks advanced for 1188 stocks that declined.
Reserve Bank of India Bet
We expect that the RBI will pause the rate hike cycle when it meets on Tuesday, after raising rates by another 25 bps. The government has raised interest rates ten times in the last one year to contain high levels of inflation.
Derivatives Analysis
The market picture chart hints at a volume-based upside around 5,692 and IB range support at 5,590. The participants were seen hedging their long positions through buy-side trades in the 5,600- strike and taking a bullish view on the markets as they increased OI in 5,700-strike puts by 2.52 million shares through sell-side trades.
Global market Update
Markets ended on an upbeat note following positive news of Greece bail-out by European Union. It is a second bail-out of Greece by European Union at $1.57 billion and thus it has pepped up risk appetite for equity segment. Globally investors are bullish about the prospects of India as they feel that the fundamentals of Indian economy will prevail over global uncertainty and over a period of time they will see markets giving a breakout on the upside, but that may take around an year or so.
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Support and Resistances for the Day
Indices | Support | Resistance |
Nifty | 5600-5585 | 5660-5680-5717 (200 DMA) |
Jackpot Tip Profit
Stock | Profit (Rs) |
Tip | 1440 (Rs 50,000 Trading) |
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Intraday Trading Tips
Share | Gains (Rs) |
Tips | 41940 |
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Future and Options Daily Paid Tips
NSE Nifty 50 Stocks | Made Money (Rs) |
Tipz | 66880 |
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Strong future shares at National stock exchange
Praj industries, GSPL, IDEA, TTML, EKC, Petronet LNG, Arvind Mills, Chambal fertilisers, Union Bank, Bharti airtel
Weak future stocks at NSE
Exide Industries, IBREALEST, Abgship, TTK Prestige, LITL
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