morning thoughts..

As said and expected the markets slide and has come near to the 11.8% retracement levels of the current rise.
Technically the markets still looks weak and indicates no sign of strength and a test of 2750 on nifty and 9300 on sensex is likely.
However there exists a crucial support at 8950 on sensex and 2650 on nifty , breaching of which will increase the magnitude of fall and a steep slide could be witnessed.
Any survival of the crucial levels will again see a pullback to 21.8% retracement levels of 3400 on nifty.
The day is likely to be negatively biased with some recovery in second half but with bouts of huge volatility.
The supports for the nifty is at 2750 levels and resistance at 3000 levels
The supports for the sensex is at 9300 levels and resistance at 10100 levels


Stocks to watch

Rel looks good at lower levels in panic

L& T looks good at lower levels


Our bumper stock given yesterday S – was suzlon , initiated at 52.50 for targets of 65, just see the blast in one day.

Many such bumper stocks will be initiated which will wipe off all the pain of 2008…


Yesterday’s calls sent via newsletter ,sms and messenger.

Jp associates – buy at cmp 76 sl 74 targets 80 , went 88

Hpcl – buy at cmp 203 sl 200 targets 211 , went 211.75

Unitech 50 ca – buy at cmp 7.25 sl 6 tar 9 , went 8.20


Bnb bumper – buy suzlon cmp 53.50 sl 48 targets 65 , hit targets like a dot