The Indian Government has suddenly increased the rate of Diesel, Kerosene, and LPG in order to provide some relief to the loss making Oil Companies.
US Stock Markets: The US Stock Market dropped on Wednesday, June 22, 2011 after the Federal Reserve acknowledged the sluggish pace of economic recovery. The Dow Jones Industrial average slid 80 points or 0.66% and Nasdaq composite ended down 0.67%.
Recently, the bears in the stock market have started attacking the shares of stock market companies in which the % of pledged promoter held shares are high.
US Stock Markets: The US Stock Market ended with gains as concerns regarding the Greece debt crisis eased. The Dow Jones Industrial average closed up 0.91% and Nasdaq composite ended up 2.19%.
Stock Market News for June 15, 2011 (15/06/2011)
Nifty trend was volatile on budget day and made an intraday high of 5477 and finally lost much of the gain and closed at 5333 with slight gain .
INTRADAY EQUITY TIPS FREE
NIFTY FUTURE-CMP(5470.35) is currently in SIDEWAYS trend . Yesterday the trend was BEAR In Feb series Nifty future shed 29.33 lakh position in Open Interest and this accounts to -14.3193296182 % of Total Open Interest in Feb series.The Nifty Feb series is trading at 1.15 Rs premium to Underlying . In derivative cumulatively for all series contract Nifty future net shed 3.27 lakh position in open interest and this accounts to -1.06 % of Total Open Interest in all series and cumulatively trading in average premium of 17.58 Rs to Underlying. The open interest is also increasing with trend and premium of share is also increasing indicating bull move.
BUY NIFTY 5500 PUT @ 66 WITH SL BLW 60 TRG 72 79 88++++++++++
NIFTY FUT BLW 5465 DOWN TREND…………….
Now the desk is cleared for the formation of JPC and budget session will begin today. With no major expectation from the budget expect the unexpected. And the most important thing since the government is cornered by all sides this is the last weapon for UPA to pull the rabbit out of the hat. The seasoned war horse PRANAB DA is the master of this trade. So fasten your seat belts for a profitable ride ahead.
The much hyped EGYPT crises fizzled out, but the bigger crises spread in almost all the middle-east countries. This will affect the world crude supplies and economies in general. This is the February expiry week. Hence expect the unexpected volatility.
So wait in the sidelines for cherry picking in stocks is advised to make some quick buck. Domestically slowing of rising inflation and satisfactory corporate results will provide market boost in the short?term.
So be stock specific in this week’s trading strategy. MARKET today will open flat and remain choppy in the first half. It will become volatile in the second half and face technical resistance at 5535, 5580 and support at 5440, 5400. The end session today will result in volatile market.
BEST NIFTY TIPS FREE
Buy the share if open above 281.6 or above 285.6 with a stop at 272.5 Sell below268.5 or sell if open below 272.5
STOCK TRADING FORUM FEED