Nifty hovers around 6100- Share Tips Today 12 Nov

Nifty which opened down and consolidated around 6100 and even tried moving up towards 6150 during the initial of the day. But selling pressure resumed and Nifty closed near to 6075. Red candle days from last week continue.

Selling was witnessed in Banking, Real Estate and Auto stocks where as Pharma stocks bucked the trend and moved up sharply.

Today the index is expected to be flat to slightly positive after continuous red candle days. Nifty is getting closer to the support of 6000 û 6020 level. After 6220, 6020 is the next good support for Nifty. If Index takes support at this level then it is expected to consolidate between 6020 & 6200. SGX Nifty is trading down slightly positive. RSI from overbought zone has been drifting down and itÆs expected that Nifty might give a bounce from lower levels but ultimately selling pressure is expected to continue at higher levels.

USD-INR moved up sharply for the day and drifted around 63.75 for the rest of the day. The pair has moved up from the lows of 61 to 63.1 levels. The pair is expected to face decent resistance around 63.75 û 64.1.

The weekly support levels for Nifty are 6060 / 5979 with resistance of 6282 / 6423. The weekly support levels for Bank Nifty are 10591 / 10269 with resistance of 11485 / 12058.

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Monday Stock Trading Tips, 16 July 2012

The 30-share BSE Sensex is trading currently at 17,197.27 down by 16.43 points(-0.10%) whereas The NSE Nifty index inched up 10 points to 5236 in early trade and is now trading at 5221.40 down by -5.85 points(-0.11%). High inflation does not allow Reserve Bank of India to cut interest rates and stimulate economic growth.

The Rupee strengthened more than a week today monday Morning, it gains 37 paise in early trade. It was at 54.89/90 to a dollar.

The Top Gainers in BSE Sensex to look forward today are:

1. Dr. Reddy's laborataries Ltd.
2. Maruti Suzuki India Ltd.
3. Coal India Ltd
4. Tata Motors Ltd.
5. Sun Pharmaceuticals Inds ltd.

The Top Gainers in NSE Nifty are:

1. ITC Ltd.
2. Bharat Petroleum Corprn Ltd.
3. Cipla Ltd.

For more updated News and live reports on stock market or commodity market, stay tuned...

Share market Evening News !!!

The Nifty ended at 5,127.30, up 23.45 points or 0.46 percent. It touched a high of 5,141.70 and a low of 5,100.70 in trade today.

The Sensex closed at 16,895.47, up 35.67 points or 0.21 percent. It touched a high of 16,962.49 and a low of 16,844.10 in trade today
The rupee recovered in afternoon trade against the dollar after hitting a day’s low of 56 although traders said that RBI was not seen to intervene.

At 12:09 a.m., the rupee was at 55.90 to the dollar, slightly higher than Tuesday's close of 55.95. It had earlier touched a day's high of 55.83.

Gold hit an intraday high of $1,630.59 an ounce and was steady at $1,627.95.

The most active stock of today are: Tata Motors, Bharat heavy Electricals, Coal India Ltd. And maruti Suzuki India Ltd..

Intraday Nifty and Bank Nifty tips

Nifty Futures Tips-
Buy Nifty above 5760 TG- 5,780/5,800/5830 keeping a stoploss of 5735.

Bank Nifty Futures-
Buy Bank Nifty above 11186 TG- 11240/11300 and stop loss of below Rs 11,135.