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It was weak opening in Indian stock market today. Significant recovery was seen after choppy morning session. Nifty dragged down below the psychological level of 4800 to make a low at 4758.85 in the first half of the session after which bulls got activated and pulled it up to close the day at 4835.40 or down 0.7%. High volatility was seen for the session.

Market still seems to be in consolidation phase in the near-term. Nifty traded rangebound today and set to close in green with moderate gains. For next trading sessions Nifty is likely to find support in the range of 5475-5425 levels and 5,580-5,625 levels may act as resistance for next trading sessions. If Nifty manages to trade above 5,550 level with high volume than we can see up-move towards 5,600, otherwise on the down side, below 5500 level more correction can be seen in Nifty.

For Intraday trading tomorrow trend deciding level is at 18,575 / 5,560. If indices trade convincingly above this levels then they are likely to test 18,700 - 18,825 / 5,600 - 5,650 levels. However on the downside it may come to 18,400 - 18,270 / 5,510 - 5,460.

In the coming trading session, we can maintain our previous day view that a relief rally or a pullback towards the levels of 18,330 - 18,400 / 5,480 - 5,500 may attract selling pressure. Since the daily trend remains down, traders are advised to avoid long positions. On the downside, 17,875- 17,790 / 5,375 - 5,340 levels may act as support for both the Indices (Sensex and Nifty Respectively).

Sell Nifty Futures below Rs 5,770 for target of Rs 5,745-5,730 and stop loss of above of Rs 5,800.

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Coal India Ltd. CMP : 337.75 Buy above 340 for Target of Rs 345-349-353 and Stoploss of Rs 332.

Bhushan Steel Ltd. CMP : 443.95 Buy above 448 for Target of Rs 452-455-458+ and Stoploss of Rs 442.

Bank Nifty Futures shut stop at 11081, up 154 points or 1.41 %.In banking sector majority of scrip were positive and closed into green. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 11135 else below 10780 it would be in a downward trend.

The market failed to rebound on Thursday despite upside in Asian markets and further upmove in European markets. Technology, auto, oil and FMCG stocks dragged the market down while capital goods & pharma supported. The 30-share BSE Sensex fell 114.06 points to 27573.66 and the 50-share NSE Nifty declined 34.50 points to 8328.55. The broader markets, too, declined in late trade. The BSE Midcap and Smallcap indices were down 0.33 percent each. Though the Greece and China woes continue to weigh, the market started focussing on April-June quarter earnings, believe experts. There is a significant sequential improvement expected in earnings this quarter. According to Our experts if forecast is correct, June quarter will have the best sequential growth in past four years for sales, EBITDA and net profit Read more for Stock Futures and Option Report here- http://www.pinnaclefinancial.in/blog/stock-options-call-nifty-tomorrows-trading/

Power Grid Corporation of India Ltd. CMP : 98.40 Buy @ 98-99 for Target of Rs 100-100.80-102 and Stoploss of Rs 96.50.

For next intraday trading session any move above 18,470 / 5,540 would lead indices to test 18,640 - 18,750 / 5,580 - 5,610 levels. On the downside, markets could find support levels at 18,225 - 18,120 / 5,475 - 5,440.

Punj Lloyd Ltd. CMP : 66.30 Buy above 66 for Target of Rs 67/67.75/68.50 and Stoploss of Rs 64.60.

Equity benchmarks rose over 2% - the highest single day gain in 12 months - to end at seven month highs as investors are viewing the government's steps on fuel price as a precursor to the Reserve Bank of India cutting policy rates shortly. The 30-share BSE Sensex surged 443.11 points to close 18464.27 and the 50-share Nifty vaulted 142.30 points to finish the day at 5577.65.... Get Free Tips for Monday here- http://onlinetradingttips.blogspot.in

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12 JULY- 05:29 PM || MCX Intraday Tips (Evening Calls) MCX Silver-Sept Buy MCX Silver around 53120-53150 for target of Rs 53360-53500-53675 with placing a stoploss of Rs 53920.

For Intraday Tomorrow market may find a crucial support levels at 17,930 / 5,390. If indices trade below this level, then it may test 17,820 / 5,350. On the upside 18,200 - 18,452 / 5,490 - 5,540 levels may act as resistance for the day.

Sobha Developers Ltd. CMP : 239.95 Buy on dips for Target of Rs 243-245-248 and Stoploss of Rs 234.

For intraday trading on Monday major resistance is there at 5580 levels. But still we can't conclusively expect that the markets have bottomed out. As the decision on diesel and LPG price hike is pending, negativity factor will remain dormant till then. For the same trading day Nifty would find support level around 5430-5370.