morning thoughts..

As said and expected the weakness continued and every rise saw a selling pressure.
Technically the parameters indicates no strength on charts as of yet and more weakness is likely to continue.
However we head to a f/o expiry day –so more volatility and choppiness is likely to be the order of the day with a probable short covering in later half of the day.
So from a trading point of view ,its not time to short , but wait for intraday weakness and dips , one must buy weakness and sell on rise and refrain from huge shorting.
The supports for the nifty is at 4725 levels and resistance at 4850 levels.
The supports for the sensex is at 16050 levels and resistance at 16500 levels.


Stocks to watch

Hpcl , bpcl , niit tech looks good at lower levels



Yesterday’s calls sent via sms and messenger

Ivrcl infra – buy at cmp 354 sl 350 targets 364 , went 362

Icici bank – sell at cmp 802 sl 806 targets 780 , hit sl

Bajaj hind – buy at cmp 214 sl 211 targets 222 , went 220.20

Nifty – sell at cmp 4820 sl 4841 targets 4785 , went 4791

Nifty 4800 pe – buy at cmp 28 sl 22 targets 45 , went 39

Tuesday’s Fii Hexaware – booked full profits at 81 , long from 73

Tuesday’s Jackpot Punjlyod – booked full profits at 209 , long from 201.20