11 June Share Market Trend: Intraday Tips For Today

Share Market Trend: 11 June

Market has opened on a delicate note as rupee has hit record-breaking high. The rupee has touched a record level of 58.30 for every dollar in opening exchange Tuesday because of substantial dollar acquiring, as against past day's shutting of 58.15 for every dollar. The Sensex opens down 54.16 focuses at 19386.91 while the Nifty is down 29.25 focuses or at 5848.75. In the vicinity of 88 portions have propelled, 165 allotments declined, and 26 portions are unaltered. Engineering stocks are getting solid as rupee devalues. Infosys, Tcs and Wipro are the lead gainers on the Sensex. In the interim, Icici Bank, M&m, Sun Pharma , Jindal Steel and Hdfc are the major washouts.

Currently The Sensex is down 98.54 points at 19342.53, and the Nifty is down 32.25 focuses at 5845.75. In the vicinity of 371 Shares have propelled, 815 shares declined, and 78 shares are unaltered.

Intraday Tips For Today: 11 June

• IOC Sell below 265, Target is 258, stop loss at 268
• ONGC Buy above 321, Stop loss at 317, Target at 328
• TCS Buy around 1526, Target of 1545, stop loss at 1518
• Tata Power Sell below 88, stop loss at 89, Target at 86  
• Adani Power Sell at 53, target at 51, stop loss at 54  
• IFCI Sell below 25 for target of 24, stop loss at 25.50

Budget Impact: Nifty Trend For Today

As the Finance Minister P Chidambaram announces the Union Budget today, the market has opened on a good note. However, it is mostly the global cheer that has uplifted the market and Budget expectations will follow soon. The Sensex was up 165.51 points or 0.86% at 19317.92 while the Nifty was up 49.35 points or 0.85% at 5846.25 in its early trade. 

Nifty Trend Today: 

Nifty closed on a bull note at 5796. So today the first resistance for nifty is at 5870 level. Next resistance ranges are at 5930-40 levels. On downside first support is at 5770 level. Next supports are at 5720-15 level. Nifty is still in bear zone and a strong close above 5841 is atleast required for the bulls to resume bull movement.

Global Updates Made Market Positive Today: Share Tips

Due to strong international signals with fast opening domestic markets. Sensex up 75 points at 19090 and Nifty opened 23 points higher to 5785. The market has risen sharply in early trading. With global markets moving up, Indian equity benchmarks too entered the reconstruction mode. The 317 points massacre on the Sensex, a pull back was expected. Most of the stocks that lost 2-3 percent have bounced back 1-1.5 percent.

Realty shares gained 1.25 percent. Capital Goods, Oil & Gas, Metal, FMCG, power, consumer durables, PSU and bank stocks are up 1 to 0.5 percent. Healthcare shares have gained 0.3 percent. Auto shares 1 per cent are broken. IT stocks declined 0.75 per cent. Tech shares weak 0.25 per cent.

Nifty stocks, JP Associates, Bharti Airtel, L & T, DLF, HDFC, Reliance Industries, BHEL, Jindal Steel, Reliance Infra, Sesa Goa, Hindalco, ICICI Bank are up 2.5 to 1 per cent.

Bharti shot up 2.5 percent; investors have got bullish on the telecom giant post failure of spectrum auction. Top largecap gainers on the indices were Sterlite, BHEL, Jindal Steel, HDFC, DLF, JP Associates and Sesa Goa.

Share Tips Today

IDFC Buy above 153 for the target of 156 with a stop loss of 151

Ipca labs Buy arround 495 level to get target of 505 with stop loss of 489

Adani Ports Buy above 141 and target at 143 with a stop loss of 139.

Budget Impact on Market: Nifty Trend For Today

Today Market open with a selling pressure. Nifty fell more then 30 points and sensex gone 100 points down in early trade. In yesterday's trading The BSE Sensex closed on a flat note with no fresh triggers. Further, the upward movement of the market was capped by limited participation from the domestic investors. The market has been in a consolidating phase for sometime now with mostly lower grinds. All eyes are now on the Budget session of Parliament that will kickstart today.

Nifty Trend Today

Nifty closed at a flat note in last trading and looking in a weak trend today. So today 5870 level would be a strong support today. On upper trend Nifty has a strong resistance at 5970 level. Nifty is in bear zone. So today if nifty is below 5875 be very alert and better avoid any longs and until a strong move above 5970 better stay away from bull side.

Will the Budget set the stage for an upward run or will the grind continue? Click Here To Know

Global Market Updates: Nifty For Today

The BSE Sensex ended flat on Monday, holding just above 19500. The market witnessed a lacklustre trading session throughout the day. Today, cues from the global markets are not very supportive as Asian market showed mixed trading trend. There was no trading in the US on account of President's day, while the European markets too closed on a mixed note. On back of global factors and not much domestic support, equity market too is likely to show downtrend today.

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Global Market Updates:

Asian markets traded mixed. China's Shanghai Composite shed 0.34% or 8.12 points at 2,413.44. Hong Kong's Hang Seng was flat at 23,366.97. Japan's Nikkei was down 0.22% or 25.02 points at 11,382.85. Singapore's Straits Times was up 0.50% or 16.37 points at 3,304.51. South Korea's Seoul Composite gained 0.33% or 6.54 points at 1,988.45. Taiwan's Taiwan Weighted rose 0.32% or 25.05 points at 7,968.58.

Nifty For Today:

Nifty closed on a bear note at 5898. So today the first resistance for nifty is at 5950 level. Next resistance ranges are at 5990 level. On downside first support is at 5850 level. Next supports are at 5830 level. Today Nifty is in bear zone.