Next Week's Trading Tips - Nifty Future Trend

Last week market was sideways for first 4 trading days but on the last trading day Nifty had a healthy correction and markets closed more than 69 points down. Market is showing signs of a short term trend reversal. But still level of 5350 will act as a strong support and if Nifty Future breaks that level,we can see further level of 5250 and 5150 in it.

Indian Stock Market News

• Reliance Industries Ltd., owner of the world's largest refinery, received $1 billion of term loans from a group of 31 banks.

• The Indian car unit of Honda Motor Corp has not yet decided on starting assembly operations at its second manufacturing unit in Rajasthan, a senior official said on Thursday.

• Indian energy major Reliance Industries Ltd, controlled by billionaire Mukesh Ambani, is close to inking a deal with hedge fund DE Shaw to launch a $700 million to $800 million infrastructure fund.

• Maruti Suzuki, India's top car maker, is seeing good sales in August, its marketing and sales chief Mayank Pareek said.

• The rupee rose on Thursday supported by mild gains in domestic shares, and broad weakness in the U.S. dollar after weak home sales data sparked concerns of another downturn in the world's largest economy.

Stock Market Intraday Summary and Tips

Indian Market:

Nifty closed flat with a positive bias on expiry day for the month of August 2010. The index, which has been range bound since last month itself, when it was trading in 5350-5450 range, has now moved up to the 5450-5550 range.

Drug major Cipla will acquire domestic pharmaceutical company Meditab Specialties for Rs 133.35 crore. The company's board also announced a special interim dividend of 80 paise per share to mark the company's 75th anniversary.

The fate of BlackBerry's encrypted email and messaging services in India will be decided in last-ditch talks starting on Thursday between the smart phone's maker and security agencies ahead of an Aug. 31 deadline.

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Global Cues:

Asian stocks rose in choppy trade amid speculation the fall in share prices this month has made valuations cheap relative to earnings. The key benchmark indices in China, Japan, Singapore and South Korea were up by between 0.12% to 0.31%. The key benchmark indices in Hong Kong, Indonesia and Taiwan were down by between 0.01% to 0.72%.

Nse Nifty Levels and Tips for Friday, August 27th

Nifty as expected has closed below the 5480 mark and now it may be little bearish for the short term, we can expect further correction up to 5450/5420/5380 levels.  Below 5380 we may expect further downside to 5350-5250 levels. 5540 is important resistance area on the upside.

Bank Nifty Future Tips for Tomorrow

Bank nifty future has closed near the days low at 10982.50 and one may expect further downside up to 10800-10600 in coming trading sessions.  Strong resistance in Bank Nifty Future seems to be around the levels of 11200 . So one may go for sell on rise strategy in it until it close above  11200 level.