Free Stock Market Tips For Intraday Nifty Sure Shot Trading Tips

On Tuesday, the Indian benchmark indices trading lower owing to to profit-booking by funds and retail investors in FMCG, auto, bank and metal sector Free Stock Market Tips amid a weak trend in the Asian markets. On domestic front, state-run oil marketing companies could hike petrol prices by up to Rs 3 per litre and the hike could be announced on 15 May 2011 during the fortnightly review of prices.

Reserve Bank of India has relaxed the provisioning norms for banks with retrospective effect from September 30, 2010, which in turn could help banks post higher profits. Also, the broader market indices are trading positive as BSE Mid Cap was trading down by 0.7% and BSE Small Cap was lower 0.6% respectively. The key benchmark indices are trading at BSE 30-share Sensex above 19,330 mark, while Nifty is above the 5,805 mark.

At 12:20PM BSE SENSEX was at 19336.49 down by -247.82 points or by -1.27 % and then NSE Nifty was at 5805.75 down by -68.75 points or by -1.17 %.

The BSE MIDCAP was at 7193.34 down by -48.24 points or by -0.67 %. while the BSE SMLCAP was at 8842.88 down by -57.02 points or by -0.64 %.

The BSE Sensex touched Stock Tips Intraday high of 19600.79 and intraday low of 19306.92 The NSE Nifty touched intraday high of 5878.25 and intraday low of 5792.05

On the economic front, an Indian delegation, led by commerce secretary Rahul Khullar, is likely to initiate a new phase of bilateral discussion with Pakistan government tomorrow, over the trade of petroleum products. Though Indian has maintained its position as “most favoured nation” status from Pakistan for more than five years, petroleum products were never in the imports list.

 The opening of the trade routes for petroleum products also opens new markets for Indian petroleum exporters like Reliance Industries Ltd (RIL) and Essar Oil. Indian Oil Corporation’s Panipat refinery and HPCL-LN Mittal group’s upcoming Bhatinda refineries will be at an advantage due to its geographical closeness.

Pakistan has a refining capacity about 12 million tonnes, which could meet only half of the annual requirements of the country. Indian export of refining products has expanded from 746,000 tonne in FY00 to 51 million tonne in FY10.

On the corporate front, KPIT Cummins fourth quarter consolidated net sales were up at Rs 308 crore versus Rs 273.7 crore, QoQ. The company's consolidated net profit was up at Rs 26.3 crore versus Rs 20.8 crore.

India's foremost cement manufacturer ACC is set to report 24% fall in January-March quarter profit after tax of Rs 299 crore as against Rs 392 crore in same quarter the previous year.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2,732, shares advanced were 934 while 1691 shares declined and 107 were unchanged.

The top losers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 280.10,-3.05%), Housing Development Finance Corporation Ltd. (Rs. 711.35,-2.72%), Mahindra & Mahindra Ltd. (Rs. 749.50,-2.36%), Jaiprakash Associates Ltd. (Rs. 98.40,-2.28%), Wipro Ltd. (Rs. 455.20,-2.25%), among others.

In BSE, BSE_FMCG index was at 3661.8 down by -74.22 points or by -1.99%. Hindustan Unilever Ltd. (Rs. 280.10,-3.05%), ITC Ltd. (Rs. 186.15,-2.10%), Dabur India Ltd. (Rs. 101.25,-1.60%), Nestle India Ltd. (Rs. 3850.00,-1.48%), United Spirits Ltd. (Rs. 1006.50,-1.47%),.

In BSE, BSE_CGS index was at 13504.1 down by -203.7 points or by -1.49%. BGR Energy Systems Ltd. (Rs. 559.00,-2.94%), Larsen & Toubro Ltd. (Rs. 1683.05,-2.23%), Punj Lloyd Ltd. (Rs. 71.05,-1.73%), Praj Industries Ltd. (Rs. 79.30,-1.43%), Bharat Heavy Electricals Ltd. (Rs. 2048.00,-1.29%),

The leading Asian bourses are trading negative as Hang Seng, Seoul Composite, Shanghai Composite and Nikkei 225 are trading below by 1.02%, 0.44%, 0.86% and 1.17% respectively.

Best Free Commodity Trading Tips For Today on Mobile By SMS

Wheat yesterday traded with the negative node and settled -0.02% down at 1169. According to the latest data of Food Corporation of India (FCI), wheat procurement was shrugged off by76.6% so far this year to 9.15 lakh tonnes against 37.88 lakh tonnes that were reported last year in the same period due to delay in harvest in Haryana and restricted selling in Madhya Pradesh.

The government had procured 37.88 lakh tonnes in the same period last year. In Delhi wheat prices dropped -6.6 rupee to end at 1168 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1165.2 after opening at 1165.2, and finally settled at 1169. For today's session market is looking to take support at 1165.5, a break below could see a test of 1161.9 and where as resistance is now likely to be seen at 1172.3, a move above could see prices testing 1175.5.

Trading Ideas:

Wheat trading range is 1161.9-1175.5.

Wheat yesterday traded with the negative node and settled -0.02% down

Wheat is having resistance at 1172.30 and support at 1165.50 level.

Wheat procurement was shrugged off by76.6% so far this year to 9.15 lakh tonnes against 37.88 lakh tonnes

In Delhi wheat prices dropped -6.6 rupee to end at 1168 rupees per 10 kg. 

Mustardseed yesterday traded with the negative node and settled -0.69% down at 2740 on weak spot markets sentiment. Increased supply against fall in demand at physical markets mainly influenced trading sentiments pulling down mustardseed prices. Reduced off-take by oil mills and vanaspati ghee-making industries also put pressure on mustardseed prices. 

The total arrivals of mustard seed decreased by 70000 bags from the previous day to 6.70 lakh bags in major mandies. In the Sriganganagar spot market in Rajasthan the price edged down by -7.5 rupee to 2520 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 2715 after opening at 2750, and finally settled at 2740. For today's session market is looking to take support at 2720, a break below could see a test of 2700 and where as resistance is now likely to be seen at 2755, a move above could see prices testing 2770.

Trading Ideas:

Mustard Seed trading range is 2699-2769.

Mustardseed yesterday traded with the negative node on weak spot markets sentiment

Mustardseed looks to take support at 2720 and resistance at 2755.

NCDEX accredited warehouses mustard seed stocks rose by 3330 tonnes to 19356 tonnes. 

In the Sriganganagar spot market in Rajasthan the price edged down by -7.5 rupee to 2520 rupees per 20 kgs.

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Best Share Market Stock Trading Daily News Update...

In the sectoral front, the IT, FMCG and Oil&Gas space contributed the most to the market rally during the session, gaining by 1.92%, 1.67% and 1.44%, respectively. However, the Banking and Healthcare space witnessed profit booking, declining by 0.70% and 0.35%, respectively.

Both the Nifty and Sensex traded on a bullish note during the first half of the session. However, during the second half, both the benchmarks started trading volatile and finally managed to close with decent gains. The positive closing for the overnight US market had boosted the sentiment in the domestic arena during morning trade.

The Dow Jones Industrial Average (DJIA) closed with a gain of 71.6 points or 0.58% at 12,350.61, while NASDAQ index finished higher by 19.91 points or 0.72% to 2,776.79. The S&P 500 (SPX) closed up by 8.82 points or 0.67% to 1,328.26. Among the Sensex pack, 23 stocks ended in positive while only 7 stocks ended in the negative terrain. The overall market breadth remained positive, as out of total 2,951 stocks traded on BSE, 1,444 stocks advanced, whereas 1,412 stocks declined and 95 stocks remained unchanged.

The BSE Sensex closed at 19,445.22, up by 155.04 points or by 0.80% and NSE Nifty closed at 5833.75, higher by 46.10 points or by 0.80%. The BSE Midcap was at 6,873.40 higher by 19.58 points or by 0.29% and the BSE SmallCap closed at 8,175.89, up by 17.22 points or by 0.21%. The BSE Sensex touched intraday high of 19,575.16 and intraday low of 19,284.35.

The top gainers of the BSE Sensex pack were Bajaj Auto Ltd (Rs. 1459.80, 2.90%), Oil And Natural Gas Corporation Ltd (Rs. 290.10, 2.76%), Tata Consultancy Services Ltd (Rs. 1182.50, 2.71%), Hindustan Unilever Ltd (Rs. 284.60, 2.50%) and Hero Honda Motors Ltd (Rs. 1586.55, 2.23%) among others.

The top losers of the BSE Sensex pack were State Bank of India (Rs. 2767.90, 3.19%), Cipla Ltd (Rs. 321.05, 2.01%), Reliance Communications Ltd (Rs. 107.70, 2.00%), Mahindra & Mahindra Ltd (Rs. 698.60, 1.61%) and Maruti Suzuki India Ltd (Rs. 1263.55, 0.95%) among others.

On the macroeconomic front, the Indian government has set a target of Rs. 40,000 crore of divestment for 2011-12 and nearly one third of it will be achieved within the first quarter. Means to reach the target will be through public issues of companies such as Cochin Shipyard and Rashtriya Ispat Nigam Ltd. Also, oil major Oil and Natural Gas Corp (ONGC) FPO is also in the pipeline. Further, the government had already given a nod to the stake sale in Power Finance Corporation (PFC) and Steel Authority of India and Hindustan Copper. Besides, many other state owned companies will also appear in the market during the next fiscal, which are MMTC, Neyveli Lignite, Ennore Ports and Nalco.
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