Nifty intraday tips for june 30 2011

Nifty intraday tips for june 30 2011 : The Indian stock markets continued it’s up move for the fifth straight day. FMCG was on the front seat of the rally. Many of the FMCG companies stocks made their life time high like ITC, Hindustan Unilever, Colpal and Marico.

The 50-share S&P CNX Nifty gave gap up opening at 5566 and rose to 5599 in initial hour of trade thereafter market traded choppy and Nifty settled near days high at 5600 up by 55 points. Nifty made intraday high of 5609 and low of 5566.5.

The European markets are trading very strong. The FTSE index is up by 81 points, CAC index is up by 72 points and DAX index is trading flat down by 131 points.

The market breadth, indicating the health of the market was positive. On NSE, 939 shares advanced while 469 shares declined. Total of 70 shares remained unchanged.

Out of 50-share S&P CNX Nifty pack 37 scrips advanced while 12 scrips declined. IDFC was up by 3.64%, Ster was up by 3.63% and Hindustan Unilever was up by 3.38% and from the Nifty pack.

ONGC was down by 2.28%, RPower was down by 1.39% and JP Associate was down by 0.95% were top losers from the Nifty pack.

Outside the frontline indices, the big gainers in the broader market were KS Oils, Bata India and Renuka. On the other hand, losers included GTL, S.Kumars Nation Wide Ltd. and Union bank.

Nifty intraday tips for june 30 2011

State Bank of India
Sell State Bank of India below 2372,
Target: 2360-2345, Stoploss: 2390.

Tata Motors Ltd.
Buy Tata Motors above 998,
Target: 1008-1014, Stoploss: 982.

Ranbaxy Laboratories
Buy Ranbaxy Laboratories futures above 551,
Target: 557-566, Stoploss: 546.

Nifty Futures
Buy Nifty Futures above 5610,
Target: 5630-5650, Stoploss: 5587. For the latest updates PRESS CTR + D or visit Stock Market news Today

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