Tomorrow Nifty is going to take the cues from Reserve bank of India credit policy update and market has already anticipated 25 basis points hike and if it is not more than this than the market remains in bullish mode and if it happens to be more than 25 basis points than we will see Nifty taking support at 4980 level. If nothing negative does not come in tomorrow's event than the Nifty can rally to 5320 level where again a stiff resistance occurs. The momentum oscillators on the daily and weekly charts are hinting towards a positive breakout and now is the right time to enter in stock market and make smart money with select hot shares to buy and these are going to make money for you at NSE and BSE trading. Just keep an eye on Nifty 5210 level which will act as a resistance for index.
Nifty can bounce back from those levels. Markets would be looking towards the Reserve Bank of India's monetary policy review tomorrow for direction. RBI, in a continued effort to tame inflation, may hike rates by 25 bps feels bankers and analysts. Thus tomorrow RBI policy is going to act as a catalyst for Nifty movement in coming days ahead.
Deepawali is an auspicious day and thus check out the timings for Diwali muhurat trading 2011 here & also go through the Impact of Diwali on Indian Stock Market to understand the implications of these select Indian festivals on our stock markets. Please accept our team wishes on the eve of Diwali and may God bring all prosperity in life for you and your near and dear ones.
The market breadth, which indicates the overall health of the market, was negative. Out of a total of 3256 stocks traded, 1670 stocks declined, while 1462 advanced. 124 stocks remained unchanged.
China Impact on Global economy
China's manufacturing sector expanded moderately in October, after contracting in the each of the past three months. HSBC's flash purchasing managers' index (PMI), designed to give an early snapshot of the month's factory activity, rose to 51.1 in October from the previous month's final reading of 49.9 as new orders and new export orders expanded. Asian markets had a strong run after this report showed that China’s manufacturing may expand for the first time in 4 months and also on easing concerns over the Euro debt crisis.
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Support and Resistances for the Day
Indices | Support | Resistance |
Nifty | 4995-4980 | 5174-5203 |
Jackpot Tip Profit
Stock | Profit (Rs) |
Tip | 1830 (Rs 50,000 Trading) |
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Intraday Trading Tips
Share | Gains (Rs) |
Tips | 34890 |
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Future and Options Daily Paid Tips
NSE Nifty 50 Stocks | Made Money (Rs) |
Tipz | 59860 |
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Strong future shares at National stock exchange
Moser Baer, Patni, Raymond, Tata Motors, Praj Industries, Balrampur Chini, Bombay Dyeing, TVS Motors, Infy & Axis Bank.
Weak future stocks at NSE
Nagar Fert, Jain Irrigation, Pantaloon, Exide Industries, Union Bank, EKC, Welcorp, Great Offshore, NCC & Voltas.
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