It appears that a pal of gloom has set in the market by virtue of global financial worries and Nifty traded extremely volatile and its key support of 5020 has been broken with conviction and recovery appears distant as global financial crisis appears worsening with no solution in sight. Now we just need to see if Nifty 200 day moving average at 4816 can support the same or not and if this is broken than we should be ready for a fall to 4700-4500 levels. Thus to make money as a day trader, one should undertake trading with sure intraday tips as it helps one to close the day with profit without worrying for the global uncertainty and a day trader makes money in both bull and bearish market by either going short or long as per the prevailing trend in the market.
Analysis of future and options data suggests that market is seeing Put Open interest buildup at 4,700 and this means that we will have to wait before any reversal commences. Technically the Nifty has turned in a downtrend as momentum oscillators on the daily and weekly charts are in favour of further fall, hence these levels may be broken on the downside and thus one need to keep an eye on 4800-4750 levels which will indicate further leg of downside commencement.
Thus the final verdict for Nifty future comes where short term bias remains negative for Nifty as long as Nifty remains below 5000 levels while key supports for coming week are seen around 4750 levels and volatility will be high due to approaching of derivatives expiry week. Keep your eyes on next week announcement of current account balance (Q2) and weekly inflation.
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Support and Resistances for the Day
Indices | Support | Resistance |
Nifty | 4840-4804-4751 | 5000-5200 |
Jackpot Tip Profit
Stock | Profit (Rs) |
Tip | 2940 (Rs 50,000 Trading) |
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Intraday Trading Tips
Share | Gains (Rs) |
Tips | 43970 |
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Future and Options Daily Paid Tips
NSE Nifty 50 Stocks | Made Money (Rs) |
Tipz | 67680 |
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Strong future stock at National stock exchange
Ruchi Soya, Bombay Dyeing, Arvind, Grasim, VIP Ind, Finan Tech, Gitanjali, ACC, Ambuja Cement & Titan.
Weak future shares at NSE
Nagar Fertilisers, Pantaloon, GT Offshore, IVRCL Infra, SRE Infra, IFCI, MC Dowell, Fortis, Jain Irrigation & Ibrealest.
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