morning thoughts..

The week is again full of holidays and a truncated week to trade into.
The markets have shown tremendous strength and has kept the tendency to rise from lower levels with a policy of buy on dips.
The indices have respected our crucial levels of 9500 and continued its journey upwards , this is a perfect technical obligation.
Technically the markets are displaying strong undercurrent and has the potential to accumulate more gains and a rise upto 10800-900 looks viable.
However we may see a mild and tricky profit booking at these levels with wild fluctuations.
Structurally the trend is intact and has not been compromised yet , but the markets have a nature of going against common views and opinion.
So when the environment was full of pessimism and brutal negatativity with every single person talking about nifty 2200 & 1800 , we made accurate prediction of a 400 point move coming in nifty and took position at 2787 , from where the nifty has smoothly risen to 3300, this is again a perfect astrological obligation.
Now the trading screen is not reflecting any weakness , but the retail participation is definitely missing and they are reluctant to get into markets.
In such a scenario the markets keep on rising and stretching with intermediate reactions and fluctuations , and then brings in retail participation at higher levels , the scenario looks the same again.
Any how we have already said that many stocks will double and triple in no time and this procedure is likely to continue.
The coming session yet again looks volatile and tricky , with wild fluctuations
The supports for the nifty is at 3250 levels and resistance at 3420 levels
The supports for the sensex is at 10300 levels and resistance at 10900 levels


Stocks to watch

Idea , Nalco , Ntpc looks good



Yesterday’s calls sent via sms and messenger

Edeilwess capital – buy at cmp 281 sl 275 targets 294 , went 317.90

Mundra port – buy at cmp 367 sl 361 targets 382 , hit sl

Nifty – buy at cmp 3165 sl 3149 targets 3200 , went 3368.80

Nifty 3200 ce – buy at cmp 95 sl 84 targets 113 , went 222.50

FII Ispat – buy at cmp 12.50 sl 9 targets 18 – 7 days,( booked profits at 13.80 )

Ispat 15 ca – buy at cmp .70 paisa sl .35 paisa targets 2 – 3 days, went 1.20 the same day

Tata motors – buy at cmp 208 sl 205 targets 214 , went 225.50

Chambal fertilizers 50 ca – buy at cmp 2.65 sl 2 targets 4, went 3.20

Jp associates – buy at cmp 93.20 sl 91.40 targets 96 , went 108.95

Praj inds – buy at cmp 67.40 sl 66 targets 71, went 69.95

Suzlon 55 ca – buy at cmp 4.65 sl 3.95 targets 6.50 , went 7.10