morning thoughts..

We said of sensex crossing 17000 and meeting the logical targets of 17300 , the markets crossed the resistance zones of 16900 and obliged to inch towards our logical targets of 17300 which looks well in reach now.
Technically the trend is still intact up and strong but the parameters looks a bit over stretched and tired and there seems a lack of momentum in many mid – cap and small cap stocks with focus again shifting towards the large caps and heavies.
Each day we find a sectoral shift in the movement of stocks and one needs to be quick to exit from a particular sector or can get stuck for a couple of days and weeks.
Structurally the indices can inch into a more overstretched zone , on base of frustrated retail participation and feel of left out , then we can see some correction , until then the indices can inch higher on volatility and choppiness.
From a trading point of view , one needs to be cautious and watch 16900 as supports on downsides and 17500 as resistance on upsides on sensex front.
The supports for the nifty is at 5000 levels and resistance at 5125 levels.
The supports for the sensex is at 16900 levels and resistance at 17400 levels.


Stocks to watch

Alok inds , central bank , parsvnath looks good


Yesterday’s calls sent via sms and messenger

Neyveli lignite – buy at cmp 132.50 sl 131 targets 135 , went 136.25

Petronet lng – buy at cmp 78.80 sl 77.90 targets 82 , went 81.30

Nifty – buy at cmp 5040 sl 5029 targets 5080 , hit targets like a dot , went 5080

Petronet lng 80 ca – buy at cmp 2.80 sl 2.20 targets 4.50 , went 4.10

Nifty 5000 pe – buy at cmp 135 sl 125 targets 157 , hit sl

Fii Niit tech – buy at cmp 123 sl x targets x – 3 days (booked full profits at 127 the same day)

Jackpot Cairn India – buy at cmp x sl x targets x – holding

Dii Ranbaxy – buy at cmp x sl x targets x – holding

Punter Central bank – buy at cmp 153 sl x targets x – 3 days (booked full profits at 164 the same day)