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Friday, February 11, 2011

Stock Trading Strategy for Today

"Bearish vs Bullish"
 Yesterday, trading took place between high volatility hence it closed in red. There was selling pressure observed in Technology and Reality sectors while Auto and Power sectors witnessed moderate buying in stock market.
  The Nifty closed at 5,225 down 28 points after making an intra-day high of 5,272 and The Sensex extended further losses due to aggressive selling force seen across board it was at 17,463 down 129 points after making an intra-day high of 17,603 in the stock market. 
  The direction of  stock market for the day is not supportive at all. Pressure is all around in the market. Investors are worried and it is expected they will continue to sell part of their holdings with every fall , aggressively
  The interpretation of the movement of stock market by disheartened investors went in vain as the trouble of stock market remained the same.

  A dip in food inflation to a 7-week low of 13.07% for the week ended January 29, failed to bring any cheer. Rough calculations show that stock market wealth has crashed by over Rs11,000bn  since the beginning of this calendar year.



  But today is another day and we expect some positive results from stock market.The NSE Nifty is expected to open in a constricted range and trade with caution ahead of the IIP data. 
  We may see a sideways movement between the first Support 5202 and Critical level 5282 till the IIP reading is out. Any negative surprise in the same may force Nifty to break 5202 and move towards the Major Short-term Support at 5162. If
this  level  holds,  we  may  see  some  recovery  in  the  market and that would surely be the sigh of relief. 


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