morning thoughts..

The indices continued to slide with broader markets seeing a steep correction.
Technically the indices have broken some intermediate support levels and indicates no strength on technical parameters.
However the indices now moves into an oversold zone and may continue to remain so for coming sessions.
Further the indices are near to support zones of crucial levels of 4440 on nifty front and 15150 on sensex front which is likely to provide cushion to downfalls, a breach and a sustained trading below it will open gates to 14400 levels which becomes the next logical targets for any downfalls.
Amidst such volatility and downslide major opportunity awaits and lays in select mid cap stocks which needs to be accumulated from a short to medium term view.
The supports for the nifty is at 4525 levels and resistance at 4650 levels.
The supports for the sensex is at 15150 levels and resistance at 15600 levels.


Stocks to watch

Ivrcl infra , bank of India , Nalco looks good



Yesterday’s calls sent via sms and messenger

Punter Bank of India – buy at cmp 329 sl x targets x – 3 days (booked full profits at 340 the same day)

Fii Telco – buy at cmp x sl x targets x – holding

Dii Apar inds – buy at cmp x sl x targets x – holding

Punter Ivrcl infra – buy at cmp 338 sl x targets x – 3 days (booked full profits at 344 the same day)

Nifty 4700 ce – buy at cmp 124 sl 114 targets 145 , went 146.70

Nifty – buy at cmp 4690 sl 4675 targets 4725 , went 4734.90

Sail – buy at cmp 164 sl 162.50 targets 167 , went 167.20

Tisco – buy at cmp 468 sl 464 targets 478 , hit sl

Icici bank 800 ca – buy at cmp 38 sl 35 targets 44 , went 54

Tisco 470 ca – buy at cmp 25 sl 22 targets 30 , hit sl

Idfc – buy at cmp 151 sl 149 targets 156 , went 154.60