morning thoughts..

Yet again the indices remained hugely volatile and gave swings like a pendulum but managed to stay above the crucial levels of 4900 on nifty.
Technically the markets stand at a crucial juncture and could be a decisive day for a broader move eitherside.
So the coming session is likely to be a crucial one , and could see a big move , the markets are likely and assumed to be up as long as 4900 holds.
However amidst the indices volatility many stock specific activities and sectors like pharma , sugar , financial , steel were seeing renewed buying interest at lower levels which is likely to continue and one must concentrate on stock specific activities .
From a trading point of view , one must remain long and buy dips as long as 4900 holds and trail it as stoploss for all longs and exit if the crucial levels are breached with a sustained trading below it.
The supports for the nifty is at 4900 levels and resistance at 5050 levels .
The supports for the sensex is at 16600 levels and resistance at 17200 levels.


Stocks to watch

Gail , bajaj hind , mercator lines looks good



Yesterday’s calls sent via sms and messenger

Nifty – sell at cmp 5010 sl 5028 targets 4980 , went 4972

Hindalco – buy at cmp 130.50 sl 129.50 targets 135 , hit sl

Bharti 340 pa – buy at cmp 12.50 sl 11 targets 16 , went 22.80

Nifty 5000 pe – buy at cmp 133 sl 125 targets 152 , went 149.50

Icici bank 920 ca – buy at cmp 39 sl 36 targets 47 , went 48

Tisco – buy at cmp 527 sl 523 targets 535 , went 539.75

Icici bank – buy at cmp 921 sl 916 targets 933 , went 936.10

Tisco 530 ca – buy at cmp 21 sl 19 targets 25 , went 26.60

Gail – buy at cmp 368.50 sl 366 targets 374 , went 383.95

Jackpot Mercator lines – buy at cmp 61 sl x targets x – holding