Market Trend: Stock Tips Today

Stock Market Trend Today

The 50-share NSE Nifty continued to trade below the 5700 level, which has been its resistance since the start of this week, weighed down by banking and financial, capital goods, technology and power stocks. The Indian rupee, which went near to 51 against the US dollar last week, slipping towards the 53 level again; it was down by 24 paise to 52.96 a dollar.

The BSE benchmark fell 103 points to 18,690.40 and the NSE benchmark went down 31 points to 5,673.75. The broader markets too were down 0.5 percent as declining shares outnumbered declining by a ratio of 1172 to 870 on the BSE.

Nifty has a major support around 5,585. Even if it were to come back during the week to around 5,585, that would be the first buying opportunity.

Intraday Stock Tips : 10th October 2012

SELL Tata Steel Ltd. Intraday Target 403  Stop Loss 417.55

BUY Jaiprakash Associates Ltd. Intraday Target 88  Stop Loss 85