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Best Nifty Intraday Tips

In BSE, BSE IT index was at 6087.88 down by -170.66 points or by -2.73%. HCL Technologies Ltd. (Rs. 463.85,-3.84%), Tata Consultancy Services Ltd. (Rs. 1149.70,-3.43%), Mahindra & Mahindra Ltd. (Rs. 707.50,-3.16%), Infosys Technologies Ltd. (Rs. 2905.20,-2.80%) and Financial Technologies (India) Ltd. (Rs. 868.55,-1.98%)

In BSE, BSE nifty stock Realty index was at 2333.68 down by -76.47 points or by -3.17%. DLF Ltd. (Rs. 233.55,-4.69%), Orbit Corporation Ltd. (Rs. 53.85,-4.18%), Housing Development & Infrastructure Ltd. (Rs. 180.85,-3.83%), Indiabulls Real Estate Ltd. (Rs. 144.75,-3.18%) and Sunteck Realty Ltd. (Rs. 333.90,-3.02%).      
Further, Shanghai Composite is down by 1.43% to 3,013.7 and Hang Seng Index fell 1.37% to 23,504.73. in nifty intraday  Separately, Taiwan Weighted and Seoul Composite are trading lower by 1.20% and 1.14% respectively. In the domestic arena, the markets are likely to follow the rout of global counter part and trade range-bound with downside movement. Auto, Oil&Gas and CG pivotals will be in focus today.

The MSCI Asia Pacific Index dropped 0.9% to 134.47 with about six shares declining for each that advanced. Further, Japan’s Nikkei 225 is trading in nifty lower by 1.49% to 9,413.99 as the Japanese Yen gained against the dollar and euro over European sovereign debts fuelling concerns over lower earnings for exporters.

The key equity averages are likely to open negative as most of the Asian stocks are trading lower as the Standard & Poor’s Ratings Service lowered the U.S. long-term credit outlook, thus aggravating the worries that a recovery in the global economy may slow.

Market opened lower as sell-off came as a result of concerns stemming from anticipation about debt restructuring for less fiscally responsible eurozone nations like Greece, Ireland, and Portugal. These negative news completely overshadowed the latest round of earnings results that comprised of upside earnings surprises from Citigroup (C 4.42, +0.00), Halliburton (HAL 47.14, +0.32), and Eli Lilly (LLY 35.62, -0.39).

Once again strong announcements failed to translate to gains as it failed to counter broad market selling interest. However, stocks gradually managed to trim their losses after a sharp slide but none of the sector managed to muster gains, but tech stocks and consumer staples stocks did the best job of limiting losses. Each sector finished with a loss of 0.7%.
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