morning thoughts..

As said and expected the markets remained highly volatile with wild fluctuations and remained tricky with mild profit booking at higher levels.
Technically the trend is still intact and up and the indices could see some more upsides.
However the sensex could not cross our high resistance are of 10900 and saw an immediate reversal and reaction from these levels.
So 10900 would be an important and crucial resistance zone for the sensex , and cross and and a sustained trading above it will make levels of 11200-300 viable.
Structurally the markets are in over bought , high resistance zones and is likely to see more upsides with sluggish and volatile moves.
The indices looks exhausted and tired and a reaction from higher levels looks viable and sudden
The supports for the nifty is at 3350 levels and resistance at 3490 levels
The supports for the sensex is at 10500 levels and resistance at 10990 levels


Stocks to watch

Sesa goa , wipro , mtnl , sbin looks good


Thursday’s calls sent via sms and messenger

Mcdowell – buy at cmp 694 , sl 688 targets 710 , went 724

Fii Srf – buy at cmp 84.35 sl 79 targets 100 – 3 days ( booked at 89)

Jp associates 110 ca – buy at cmp 9.45 sl 7.50 targets 14, went 14.20

Nifty – sell at cmp 3372 sl 3389 targets 3340 , went 3310

Dlf 220 ca – buy at cmp 16 sl 13 targets 21, went 23

Tisco – buy at cmp 245 sl 241 targets 253 , went 255

Nifty 3400 ce – buy at cmp 97 sl 89 targets 115 , hit sl

Jackpot Sesa goa – buy at cmp 111 sl 103 targets 130 – 4 days (booked at 114.50)

Sbin 1200 ca – buy at cmp 36 sl 30 targets 45, went 46

Nagarjuna fertilizers – buy at cmp 23.45 sl 22.45 targets 25 , went 24.40

Unitech 45 ca – buy at cmp 3.45 sl 2.90 targets 5.25 , went 4.40