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

Nifty Trend and Intraday Tips For Today: 4th Oct

The 30-share BSE Sensex rose 141.79 points to 19,011.48 and the 50-share NSE Nifty went up 45 points to 5,775.95, supported by banks, FMCG, oil & gas, capital goods and auto stocks.

The BSE Sensex has touched a new 14-month high in early trade on Thursday, surpassing the 19000 level quite nicely - for the first time since July 8, 2011 -ahead of cabinet meeting for further reforms to revive the sluggish economy.

The UPA government is set for a second push for Prime Minister Manmohan Singh's reform measures. The Cabinet is expected to clear 26 percent FDI in pensions and 46 percent in insurance in today's meeting. The Cabinet will also consider the Forward Contract Regulation Act (Amendment) Bill to empower commodity markets regulator FMC with greater financial autonomy. It will also take up the Companies Bill to bring all sectors under the Companies Act, amendment to the Competition Act and a proposal for operationalising the Infrastructure Development Fund (IDF), sources said.

From Now nifty has a new target to get 5800 level in today's trading and even the nifty resistance level at 5840 also support to test that level. In downside Nifty has a crucial support at 5700 level. Nifty trend is looking in buying side today. It will be beneficial to get the buying position in curent scanerio.

Here are some intraday suggestion for today's trading.

• BUY Tata Motors Ltd. Intraday Target 283 with a stoploss of 272
• SELL Jindal Steel -and- Power Ltd. Intraday Target 412   Stop Loss 422  
• SELL Ajmera Realty -and- Infra India Ltd. Intraday Target 126   Stop Loss 135
• BUY IFCI Ltd. Intraday Target 32.3   Stop Loss 30.5   
• SELL Timken India Ltd. Intraday Target 213   Stop Loss 219