We said of the big move and the markets shaped up as expected , yet again a perfect analysis at work.
Technically the markets are still intact up , but showing signs of tiredness in the vicinity of high resistance , overstretched zones of 5000 on nifty front.
So as the nifty inches towards the pschyological mark of 5000 , one needs to be cautious and alert.
However some intermediate reactions from these levels cant be ruled out , and momentum can inch the indices into a more stretched territory of 17600 on sensex front and 5400 on nifty front.
On the lower side good and strong supports exists at 16050 on sensex front and 4780 on nifty front.
So as far as these levels are held , the markets are assumed to be up , and must be bought on dips , prevailing and keeping the mentioned crucial levels and a strict stoploss.
Structurally the markets have not indicted or shown any signs of weakness or reversal , so one must refrain from huge shorts at higher levels.
The comimg session yet looks volatile with a probable two side movement.
The supports for the nifty is 4850 levels and resistance at 4980 levels.
The supports for the sensex is at 16200 levels and resistance at 16700 levels.
Stocks to watch
Pioneer embroideries , century textiles , Bombay dyeing looks good
Yesterday’s calls sent via sms and messenger
Monday’s Fii Bajaj hind – booked full profits at 179 , long from 174
Fii Canara bank – buy at cmp 307 sl x targets x – 3 days (booked full profits at 315 the same day)
Dii Bob – buy at cmp 472 sl x targets x – 3 days (booked full profits at 482 the same day)
Punter Sesa goa – buy at cmp 252.35 sl x targets x – 3 days (booked full profits at 265.60 the same day)
Jackpot Bank of India – buy at cmp 376 sl x targets x – 3 days (booked full profits at 387 the same day)
Balrampur chini – buy at cmp 123.50 sl 122 targets 128 , hit sl
Nifty 4800 ce – buy at cmp 113 sl 106 targets 130 , went 144
Reliance 2160 ca – buy at cmp 48 sl 42 targets 62 , went 57.50
Nifty – buy at cmp 4858 sl 4840 targets 4890 , went 4908.90
Rel capital – buy at cmp 907 sl 904 targets 915 , went 929
