The indices could not cross the stiff resistance zones of 17300 and cracked on back of weak global cues and f/o expiry.
Technically the late hour sell of indicates some more pressure in the coming session and some more downsides could be possible.
However for the trend to change the indices will have to create a newer low than yesterday and close below it with sustained volumes , unless and until that happens a chance of bounce back from lower levels remains viable.
Been the last day of the trading day of the week and ontrought of a new series , the markets seems to be volatile with not much interest on the weekend.
Historically December has been a good series , so we can expect the same this time ,though in a range.
The supports for the nifty is at 5010 levels and resistance at 5150 levels.
The supports for the sensex is at 16600 levels and resistance at 17400 levels.
Yesterday’s calls sent via sms and messenger
Tisco – buy at cmp 563 sl 560 targets 570 , went 566.60
Idfc – buy at cmp 170.55 sl 169 targets 175 , hit sl
Gail – buy at cmp 420 sl 417 targets 428 , went 424.80
Secret Mascot Mastek – buy at cmp 263 sl x targets x – 3 days (booked full profits at 384 the same day)
Punter Mphasis Bfl – buy at cmp x sl x targets x - holding
Fii Lic housing – buy at cmp 857 sl x targets x , booked full loss at 845 , hit sl at 845
Jackpot Bharti airtel – buy at cmp 284 sl x targets x – 3 days (booked full profits at 289 the same day , also given as a free call on yahoo messenger)
Dii Jp associates – buy at cmp 227 sl x targets x , booked full loss at 223 , hit sl at 223
Btst Gmdc – buy at cmp 128.90 sl x targets x – holding
Stbt Icici bank – sell at cmp 883 sl x targets x - holding
