Stock tips 30 June 2009

Markets opened flat to positive yesterday but rallied sharply in afternoon trade after remaining range bound during the first hours of trade. Hectic buying in realty, metal, capital goods and bank stocks turned the market sentiment highly positive in the afternoon on hopes that budget next week may bring in the desired reforms. However, owing to heavy profit booking during the closing hour, the market came off its highs and finally closed on a flat note with marginal gain. The Sensex, which had surged to touch a high of 14,955 and looked well set to stay put firm, however, pared all its gains and closed at 14,785, up a meager 21 points over the previous close. The Sensex had dipped to a low of 14685 in intra day trades yesterday. The Nifty, which touched a low of 4350 and a high of 4439 in intra-day trades, closed at 4390 with a paltry gain of 15 points. As buying was fairly widespread yesterday, the market breadth remained strong right through the session. Out of 2723 stocks traded on BSE, 1686 stocks closed with gains. 964 stocks declined and 73 stocks ended flat. Markets may remain volatile ahead of budget presentation next week and therefore, readers are advised to trade with caution with strict stops for every trade.

On Monday markets opened on a strong note with gap up opening tracking strong cues from the Asian markets and mixed cues from the US markets.

After a strong opening markets started loosing grounds but soon managed to gain momentum and bounced back on account of buying over the European markets..

But markets could not sustain its gains of the mid session and started shedding all its gain during the final trading hours, it lost the momentum as pared all its gains and ended on flat note on profit booking.

Nifty future intra-day tips for 30.06.09
Nifty buy above 4418 tgt 4427,4441,4456,4465,4479,4503 sl 4372.
Nifty sell only below 4372 tgt 4365,4356,4341,4327,4318,4303 sl 4418.

Nifty fut res- 4503,4488,4479,4456,4441,4418,4403. HB 4418.
Nifty fut sup-4379,4365,4341,4327,4317,4303. LB 4372.