morning thoughts..

We said that a sense says that not much downside is there and the crucial levels to watch is 9500 , the indices never broke and breached these levels and bounced .
Technically the trend remains intact and up , and looks like the markets has paused to move up with consolidation.
However the 60 HEMA & 30 minutes charts indicate that the indices are yet again viable for violent moves and a probable two side movement.
From a trading point of view , I will be cautious and closely watch the crucial levels of 9500, below which 9250 looks ripe & viable , and above these levels the indices faces stiff resistance and a probable reaction from 9800-9900 levels
Structurally the momentum oscillators and parameters are still positive and looks like a pause for a further move , but the falling wedge indicates that the oscillators are exhausted , tired and in a pause mode.
So we can witness a quick reaction downwards after an initial small upmove
The violent moves yet again will give brilliant opportunities for trading and one must look to encash them keeping in mind the crucial levels of 9500.
The supports for the nifty is at 2890 levels and resistance at 3060 levels
The supports for the sensex is at 9300 levels and resistance at 9950 levels


Stocks to watch

Jp associates , ge shipping ,punj lyod , rel capital looks good



Yesterday’s calls sent via sms and messenger

Sail – buy at cmp 95.60 sl 94 targets 98,went 98.65

Sail 95 ca – buy at cmp 7.20 sl 6 targets 9.50,went 9

Nifty – buy at cmp 3020 sl 3004 targets 3050,hit sl

Sesa goa – buy at cmp 101 sl 99 targets 105, went 104.80

Ibrealest – buy at cmp 96.25 sl 94 targets 100, went 101.60

Tisco – buy at cmp 200.50 sl 197 targets 206, went 212

Tisco 205 ca – buy at cmp 14 sl 11 targets 19, went 18

Nifty – buy at cmp 3011 sl 2995 targets 3040, went 3056.60

Nifty 3100 ce – buy at cmp 88 sl 79 targets 105, went 102.80

Rnrl 45 ca – buy at cmp 4.70 sl 3.95 targets 6, went 5.40

Fii ACC – buy at cmp 585 sl 560 targets 645 – 5 days (booked 50% profits at 600)