06.05.2008

morning thoughts..

As said and expected we witnessed bouts of volatility , with stock specific activities continuing amidst volatility.
The markets are still in a resistance zone and likely to meet some profit booking which will keep the indices volatile.
On the 20 HEMA and the hourly charts suggests that we may witness a reaction in the indices .
However any panic will see buying interest in selected stocks as trading nifty will not be easy , as it is likely to stay in a range.
Moreover the structure of the markets remain strong and no major down fall is seen , though some blips and volatility is likely.
In the extreme short term sensex has crucial supports at 16750 and nifty has crucial supports at 5040 levels which is likely to maintain from where we should again see a bounce and a rally.
In the medium term sensex is likely to target 18500 levels and 5500 levels on nifty
The supports for the nifty is at 5040 levels and resistance at 5400 levels
The supports for the sensex is at 16750 levels and resistance at 17700 levels

Astro world gets updated with predictions for the month of may

Some points to remember…

An old saying goes :- “ Business never becomes old , it’s human who decays and grows old”

This simply means that never play with your work , respect your work and work will respect you. Just like any business , one must take stock markets as serious business and it is really serious business.

Don’t take markets as a place for earning unexpected money in 1- 2 days – never treat markets as a race course.

As said :_- business never becomes old – stock markets will stay forever and will never become old , our generations will also see the same terminal and volatility , may be in a refined manner. So don’t take markets for once , treat it as a serious business , apply the same logic that you do in your business, and I am sure , no one will ever lose.

Its human who decays and grow old – dear friends , people will come and go , but markets will always be standing , avoiding any unforseen circumstances , so respect the work and you will stay in markets forever for ages , small mistakes creates big blunders as people take markets as a race course and keep a view for only a week or month. They are never able to take advantage of opportunities which are plenty in markets and keep on coming. The point is simple- treat markets as a serious business and believe me – no one will repent.

So friends- be disciplined.

Keep booking profits and cutting losses as fast as possible.

Overcome the two enemies of stock markets – “ FEAR and GREED”

If this two factors are overcomed , no one can defeat you.


Stocks to watch

Pfc

Lokesh machines

Subros


YESTERDAY'S CALL SENT TO CLIENTS VIA NEWSLETTER AND SMS

Ptc India - keep a sl at 101 and buy for targets 110, ( newsletter call ) went high 118.30

Hdil – keep a sl at 832 and buy for targets 865,( newsletter call) went high 873

IVRCL infra- Buy @ 448 SL 439 tgt460, ( 9.48 am) went high 494.40

Tata tea - Buy @ 944 Sl 940 tgt 960 (9.56 am) hit stoploss

Mudra life - Buy @ 50 SL 48.50 tgt 52,( 9.58 am) went high 52.40

Axis bank - Buy @ 945 SL 935 tgt 960, (10.15 am) went high 969.90

Unitech - Buy @ 329 SL 324 tgt 340, (10.30 am) went high 338

Rpower - Buy @ 404 SL 399 tgt 410, (11.17 am) stayed flat

Tata Steel - Buy @ 806 SL 799 Tgt 820, (11.55 am )went high 813.40