morning thoughts..

As said the trend is still intact and the markets behaved as expected and saw a pull back with bouts of volatility.
Technically the indicators are in the vicinity of over stretched and over bought resistance zones ,but as already said that when the candle bar pattern has given a breakout and has come in parallel to the first blue circle , and in such case the indices can keep on stretching , refer to Monday and Tuesday’s nifty charts.
So the charts indicate the trend is still intact and up with indices in overbought resistance zones and are waiting for a further breakout .
Structurally the pattern is suggestive of a bigger move and the indices will take every one by surprise.
From a trading point of view , one must be cautious on the short side and should buy and trade long on dips , as the ferocity and movement on the upside is likely to be more fast with velocity.
The supports for the nifty is at 2900 levels and resistance at 3050 levels
The supports for the sensex is at 9300 levels and resistance at 9900 levels


Stocks to watch

Bhel , dlf , reliance , tata power looks good

Yahoo id - pankajtechonline , astroeyesonline

Yesterday’s calls sent via sms and messenger

Unitech – buy at cmp 29.50 sl 28.45 targets 31.50,went 34.45

Suzlon – buy at cmp 44 sl 42.95 targets 46.50, went 45.20

Rel capital – buy at cmp 346 sl 340 targets 360 , hit targets exactly like a dot

Nifty – sell at cmp 2944 sl 2960 targets 2915 (book profits at 2930)

Nifty 2950 pe – buy at cmp 42 sl 35 targets 56 , went 48

Nifty – buy at cmp 2931 sl 2919 targets 2950 , went 2995

Jp associates – buy at cmp 80 sl 78 targets 84 , went 85.60

Hdil – buy at cmp 76.25 sl 74.80 targets 79, went 84.40

Dlf – buy at cmp 170 sl 168 targets 175 , went 178.50

Unitech 30 ca – buy at cmp .80 paisa sl .50 paisa targets 1.50 ,went 4.30

Super bumper Sail – buy at cmp 90 sl 88 targets 94 , went 94.90 (booked at 93)

Sail 90 ca – buy at cmp 2.45 sl 2 targets 3.50 , went 5.20

Nifty 2900 ce – buy at cmp 72 sl 65 targets 85 , went 97

FII Unitech – last days positions , booked 100% at 31