Indian Stock Market (Nifty) Trend Tips for Today
Indian Benchmark Stock Index rose formidably on Tuesday (10th July), tracking gains in European Equities, as the biggest drop in three weeks lured investors, and after the Indian Meteorological department said monsoon rains may cover the entire nation very soon. the 50-Scrips CNX NSE Nifty (spot) gained signi...ficantly with all sectoral indices closed positive. Nifty (spot) shut shop at 5345.35, in the positive by 70.20 points (1.33%), higher than the previous close. the market breath was positive with advances at 953 against declines of 483 on the nse.
Eurozone finance ministers approved a deal to rescue Spanish lenders:- The euro zone ministers agreed to grant Spain an extra year until 2014 to reach its deficit reduction targets and set the parameters of an aid package for Madrid's ailing banks. But they made no apparent progress on how the bloc's new rescue fund, the ESM, will be used to intervene in bond markets) Intraday Tips
What Next..? :- Now in the short run, Indian Stock Markets most probably will remain positive, up to end of july 2012 or so. It could still hold out, but it does not have enough strength to deliver a sustainable gain beyond 5400-5511 for the time being. the ongoing & forthcoming quarterly corporate results will influence the market. last but not the least, the “IIP” Data and forthcoming reserve bank monetary policy on 31st July will ultimately decide the future market direction. keep an eye on the quarterly results of “TCS” & “INFOSYS”, as much depending on their results. .
For 11th July (Wednesday), and also for the rest of the week as per the bollinger band, 5403 is the strongest resistance of Nifty (spot) & 5270 IS the very strong support of Nifty (spot). Best Intarday Tips
On Wednesday 11th July, Nifty (spot) if able to trade & sustain above 5368, then good up move can follow in the market and if it breaks and trade below 5300 then some more profit booking will take place in the market. However market will remain abruptly volatile & more volatility is on the cards as we head further in july series. so kindly count your every step & be cautious for the time being.
It is highly recommended to watch the market at first after opening bell and take position only after the stability. especially if market opens in much gap up. in that case it may possible that market will go for an immediate correction after that, so first half an hour after opening bell is very important. try to book profit at first on your recently purchased stocks which you are still holding. just go for delivery based intraday trading, which will keep you and your hard earned money in safe & secured state. Intraday Tips Free Trial
Nifty (spot) levels for 11th july 2012:
PIVOT: 5326, Support : 5315, 5304, 5283, 5262, 5230, 5198.
Resistance: 5347, 5368, 5379, 5390, 5422, 5454.
NIFTY (Future) Levels For 11th July 2012:
PIVOT: 5333 Support – 5318, 5303, 5276, 5250, 5208, 5167.
Resistance: 5360, 5387, 5402, 5417, 5459, 5501.