It appears the euphoria surrounding the market participants related to rate cut is going to be over sooner than later and thus one has to be cautious as market is showing an exhaustion bar.
Thus avoid going longs aggressively unless the level of 5330 level is broken convincingly in Nifty on upside mode. The trend of Nifty remains down and we should be ready for bouts of profit booking as volatility and volumes are missing in market and Nifty is struck in a narrow range. As per analysis of chart it shows that a good support exists at the level of 5200. The broader markets ended up 0.5%. Overall breadth was positive as 1,625 stocks gained while 1,251 declined. Thus now is the right time to make use of the accurate stock tip and make money by trading like the professionals who have access to correct information at the right time and place.
As a strategy for trading in Nifty we can be long in Nifty till the time the level of 5260-5240 is maintained as by virtue of RBI rate cut, we have selective momentum oscillators like MACD and Stochastic Slow turning positive on the daily charts. It appears that in coming days ahead we may see some sharp movement in one side direction and we have already recommended a straddle strategy for our paid clients.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5240-5230-5200 | 5340-5375 |
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 shares at National stock exchange
VIP Ind, Yes Bank, MC Dowell, Apollo Tyre, Sobha, Voltas, Tech M, Aurobindo Ph, Patel Eng & Bata India.
Weak future stocks at NSE
Infy, Idea, Suzlon, Rel Capital, BEML, Exide Ind, Jain Irrigation, GSPL, Mphasis & Opto Circuit.
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