morning thoughts..
Yet again the markets obliged our perfect analysis and the indices saw a two side move with volatile swings.
Technically the picture remains the same and coming session calls for more volatility.
However the indices now stand at crucial juncture and supports , breach and break of which will indicate bearish signals for coming sessions and weeks.
On the lower side crucial support exists around 16550 on sensex front and 4900 levels on nifty front.
As long as these levels are held , the markets have the potential to bounce back anytime and the trend remains up.
Though any breach and a closing below it with signal a weak and bearish pattern for days to come.
From a trading point of view , one needs to be cautious and look for a decisive closing above 17100 on sensex which seems to be a strong resistance on sensex from where the markets reacted yesterday.
On the lower side one needs to see a sustained move and closing above 4900 nifty levels for the trend to remain intact , until then a cautious approach is warranted and called for.
The supports for the nifty is at 4900 levels and resistance at 5025 levels.
The supports for the sensex is at 16700 levels and resistance at 17100 levels.
Stocks to watch
Yesbank , titan , gitanjali gems looks good
Yesterday’s calls sent via sms and messenger
Bharti airtel – sell at cmp 365 sl 368 targets 359 , went 351.75
Nifty – sell at cmp 5064 sl 5086 targets 5030 , went 4964.30
Sesa goa – buy at cmp 281 sl 279 targets 286 , went 290.30
Bharti airtel 360 pa – buy at cmp 18.10 sl 16.50 targets 22 , went 23
Nifty 5000 pe – buy at cmp 101 sl 92 targets 120 , went 159
Fii Bajaj hind – buy at cmp 183 sl x targets x – 3 days (booked full profits at 191 the same day)
Jackpot Idea cellular – buy at cmp x sl x targets x – holding
Dii Sail – buy at cmp 169.50 sl x targets x – 3 days (booked full profits at 173 the same day)
Punter Energy development corp – buy at cmp 72.50 sl x targets x – 3 days (booked full profits at 74.50 the same day)
Wednesday’s Jackpot Cairn – booked full profits at 264 , long from 257
Wednesday’s Fii Ranbaxy – booked full profits at 418 , long from 404
Unitech 100 ca – buy at cmp 6.95 sl 6.45 targets 9 , went 7.40
Tisco – buy at cmp 522 sl 519 targets 530 , went 527.40
