BANK NIFTY FUTURES Stock market intraday tips updated on 05th May 2015, Tuesday.

BANK NIFTY FUTURES

Bank Nifty futures currently witnessing selling pressure from its resistance zone i.e trend line and golden ratio in hourly chart as shown in above graph, technical indicates intraday we can see some selling pressure in Bank Nifty futures as long as it holds below its resistance zone but once it starts trading above then further price rise action can be seen intraday. Visit our site for more stock market intraday tips.

Stock market likely to open flat, stock to close watch today is Kotak Bank on its quarter 4 numbers. So far stock markets has posted a very good start for the month of May bulls are in action as all major Indian Index closed higher with a gap up in EOD charts. But for today SGX Nifty is indicating a flat to down side indication (-17pts).

On the result point of view key stocks to watch out for are Kotak Mahindra Bank , South Indian Bank, Dabur, Century Textiles and Muthoot Finance that will declare its Q4 earnings today.

On global front foreign stock markets are trading with low volumes so far as Japanese, Thailand and South Korean market are shut today.

ADANI PORT Indian Stock technical analysis chart updated on 05th May 2015, Tuesday.

ADANI PORT

Stock currently shown long bullish candle and that too with increasing volumes, this indicates bulls are active in Adani Port, technical chart also indicates that stock is moving up from 200 days moving average and also from strong trend line support zone as shown in above graph. On upper side close watch stock will find strong trend line resistance at it previous top, technical indicates further price rise can be seen once stock closes and holds above its trend line resistance.

Stock  was on news - Stock was up by 9% on 05th May 2015 as company reported as 25% jump in fourth quarter ended march 2015, stock closed around 346 at Bombay stock exchange approx 9.07%. APSEZ's consolidated net for the fourth quarter went up to Rs 661 crore on higher income and enhanced cargo volumes. The company said its consolidated PAT for the full fiscal grew 33% to Rs 2,314 crore compared with Rs 1,740 crore last year, visit our site for more Indian stock charts technical analysis.

NIFTY FUTURES finding strong resistance in hourly charts - Graph updated on 05th May 2015, Tuesday.

NIFTY FUTURES

Nifty futures finding strong golden ratio resistance and 100 hours moving average resistance at current levels, technical indicates further strength can be seen once Nifty futures starts trading above its resistance zone as shown in above graph. Click here to read what is nifty futures.

Today Nifty 50 Index has closed above its crucial psychological level of 8300 with the help of heavy weight shares like Reliance Inds, ONGC and SBI, from the last 10 trading sessions market was witnessing selling pressure and correction was due, so today market bounced back with a long bullish candle with a gap up open this indicates if holds above its yesterday highs then we can see some further price rise in Indian stock markets.

Most of the Nifty stocks closed on a positive note, 45 stocks advanced while only 5 stocks declined. Major leader in nifty 50 is ONGC which rose 8% and closed @ 328. The overall market breadth was positive as 1,954 stocks advanced while 833 declined.

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Indian Stock Market closed with a strong bullish action on 04th May 2015, Monday.

Indian Stock market has today closed on a very strong note mainly by Oil, FMGC and pharma stocks, the BSE-Sensex closed at 27490.59 and NSE-Nifty closed at 8331.95. Some of the major gainers are ONGC, Bajaj auto, Cipla, M&M and BHEL. Will the stock which are on down side are ICICI Bank, Axis Bank and TATA Motors.

Today Morgan Stanley downgrade share Shriram Transport after announcing disappointing march quarter result, its net profit declined to 73%.