morning thoughts..
The markets opened on a weak not following the global indices and took supports at lower levels and bounced like a spring to trap all shorts and closed at the higher end .
Now we head into an f/o expiry week , where volatility and choppiness would be the order of coming sessions and short covering and short squeeze cannot be ruled out.
Technically the trend of the markets are still intact up with the undertone strong and bullish with intermediate hiccups.
On the lower side major supports exists at 4900 levels on nifty front and resistance around 5250 levels , which is also the next logical targets for any upmove.
For any upmove to sustain , the broader markets needs to trade above 5150 on closing basis with volumes.
Until then the indices are likely to be in a range with volatility and stock specific movements.
From a trading point of view , I would buy close to the support levels and exit at resistance levels and look for a breakout above the resistance levels.
The supports for the nifty is at 4900 levels and resistance at 5200 levels.
The supports for the sensex is at 16800 levels and resistance at 17600 levels.
Stocks to watch
Tv today , jindal drill , vishal retail looks good
www.astroeyes.co.cc
Friday’s calls sent via sms and messenger
Mphasis bfl - buy at cmp 722 sl 718 targets 733 , went 736.25
Neveli lig - buy at cmp 154 sl 152 targets 158 , went 156
Nifty 5100 ce – buy at cmp 33 sl 24 targets 47 , went 44.90
Suzlon 80 ca – buy at cmp 1.60 sl 1.25 targets 3 ,hit sl
Nifty – buy at cmp 4965 sl 4944 targets 5020 , went 5077.80
Secret Mascot Jindal drill – buy at cmp 537 sl x targets x (booked full profits at 572 the same day)
Punter Pfc – buy at cmp 252 sl x targets x – 3 days (booked full profits at 257 the same day)
Fii Ptc – buy at cmp 111 sl x targets x – 3 days (booked full profits at 114 the same day)
Dii Jindal saw – buy at cmp 857 sl x targets x – 3 days (booked full profits at 868 the same day)
Jackpot Jp hydro – buy at cmp 72 sl x targets x – 3 days (booked full profits at 75 the same day)
Btst Ndtv – buy at cmp 137.50 sl x targets x – holding
Stbt Patni computers – sell at cmp 460 sl x targets x - holding
