Tuesday, October 9, 2012

Share Market Today: Nifty Trend and Intraday Tips For 9th Oct

Share Market Today

In the last trading sessio Sensex fell by over 229 points to close at 18,708.98, its lowest in 10 days, on heavy selling in RIL, SBI and L&T amid weakness in European stocks ahead of a key meeting to discuss the region's debt crisis. Today it has started well and Sensex boomed over 140 points trading at 18,859. Where Nifty has started with a gain of 45 points at 5722. The rupee yesterday witnessed its second biggest fall of 79 paise in 2012 to settle at a one-week low of 52.64 in tune with sluggish stock market amid the US currency logging smart gain in the overseas market. 

Nifty Trend For Today:
Nifty is looking in a positive state today. Trading at 5722 level is looking to get 5750 level at the end of the day. But our analysts are not supporting the current trend of Nifty. According to them Nifty will go below 5600 sooner or later. Any rally should be used to take short positions. So the current trend for nifty is looking in consolidate for today. Having a resistance of 5800 level and a support at 5640 level.
Hot Stock To Trade Today
  • BUY Reliance Communications Ltd. Intraday
  • BUY West Coast Paper Mills Ltd. Long Term
  • BUY Thinksoft Global Services Ltd. Intraday
  • SELL Den Networks Ltd. Intraday
  • SELL Larsen -and- Toubro Ltd. Intraday

Intraday Tips For Today
  • SELL Larsen -and- Toubro Ltd. Intraday with Target of 1605 and a Stop Loss of 1631
  • BUY Pantaloon Retail (India) for Intraday trading with a SL of 201 and Target of 213
  • BUY National Aluminium Company Ltd. with Intraday Target of 53 and a Stop Loss at 50.50
  • BUY Globus Spirits Ltd. For Intraday Target 125 and Stop Loss at 115.5

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