Reserve Bank Hike is Again Coming on 16 Sep 2011: Read below to Know Why?
Government data showed that India's annual food inflation accelerated to a three-month high, which has dampened the hopes of a pause in interest- rate increases by the central bank. An index measuring wholesale prices of agricultural products rose to 9.90 percent for the week ended July 30 after rising 8.04 percent in the preceding week and same is through horse mouth i.e. the commerce ministry.
Kuch Khatta Kuch Meetha
Meanwhile, India's merchandise exports grew by an impressive 82 percent to $29.3 billion in July, but the brisk pace of growth is not sustainable, commerce secretary Rahul Khullar said at a news conference and at commodity front we expect crude oil prices to hover around $100 per barrel this fiscal.
Derivatives Data Analysis
Doji formation today was with long upper shadow and this type of formation usually indicates that the uptrend is running out of steam. The futures closed around the lower band of IB range for two consecutive days indicating higher level selling pressure from other time-frame traders. We see strong support emerging at the levels of 5000. The overall view continues to remain bearish, and will be so until the Nifty surpasses 5,370 on a closing basis and will become all the more positive once the Nifty is able to move past the level of 5500.
Global market Update
A strong rebound in European shares and gains in the U.S. stock futures helped limit the downside for the local market. The initial strength on Wall Street was partly due to the release of upbeat jobs data, with a report from the Labor Department showing an unexpected drop in initial jobless claims in the week ended August 6th.
RS 1000 Coin
India will now have coins of the denomination of Rs 1,000. The proposal got the Parliament’s nod, even as lawmakers lamented the end of an era with the phase-out of 25 paise coin.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5250-5340-5500 | 5000 |
| Sensex | 17000 | 17500-17737 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | 1330 (Rs 50,000 Trading) |
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Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 22980 |
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Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 38780 |
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Strong future shares at National stock exchange
Chambal Fertilisers, Bata India, Idea, TVS Motor, Hexaware, Maruti, M&M, Petronet, Oil & BPCL.
Weak future stocks at NSE
KS Oils, Sterling Bio, OnMobile, Escorts, Crompton Greave, IVRCL Infra, FSL, Jindal SWHL, HDIL & Educomp.
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