morning thoughts..

The markets all over the globe fell the heat and tremors of the dubai debt debacle and saw a panic reaction.
The Indian markets too witnessed and followed the global markets and saw a good correction and steep fall , however managed to recover from intraday lows and closed at the highest point of the day.
Technically the trend of the markets are still intact up and the markets have over reacted to the dubai jitters which is unwarranted and not required , so we are likely to recover from the oversold zones in the coming sessions.
However the bounce can witness stiff resistance at higher levels and intermittent selling , so one needs to be cautious at higher levels as any bounce would be seen with suspicion and can witness a probable two side movement in the coming sessions.
Any fall or correction is a good opportunity to buy and accumulate good scrips and hold with patience.
From a trading point of view , I would buy dips and stay cautious at higher levels and continue to book profits at higher levels.
The supports for the nifty is at 4910 levels and resistance at 5050 levels.
The supports for the sensex is at 16700 levels and resistance at 17500 levels.



Friday's calls sent via sms and messenger

Mphasis bfl – buy at cmp 659 sl 655 targets 670 , went 681

Dlf – buy at cmp 334 sl 330 targets 345 , went 357

Dlf 340 ca – buy at cmp 23 sl 21 targets 28 , went 34

Nifty 4900 ce – buy at cmp 152 sl 140 targets 180 , went 191

Unitech 75 ca – buy at cmp 5.30 sl 4.50 targets 7.50 , went 9.70

Sail – buy at cmp 187 sl 185 targets 191 , went 192.40

Secret Mascot Tata comm. – buy at cmp 358 sl x targets x – 3 days (booked full profits at 376 the same day)

Fii Bank of India – buy at cmp 373 sl x targets x – 3 days (booked full profits at 379 the same day)

Jackpot Bajaj hind – buy at cmp 212 sl x targets x – 3 days (booked full profits at 214 the same day)

Punter Icici bank – buy at cmp 831 sl x targets x – 3 days (booked full profits at 840 the same day)

Secret Mascot Unitech – buy at cmp 73 sl x targets x – 3 days (booked full profits at 77 the same day)

Dii Triveni eng – buy at cmp 100 sl x targets x – 3 days (booked full profits at 102 the same day)

Jackpot Jindal drill – buy at cmp 534 sl x targets x – 3 days (booked full profits at 540 the same day)

Punter Hind zinc – buy at cmp 1128 sl x targets x – 3 days (booked full loss at 1100 , hit sl at 1100)

Jackpot Tata motors – buy at cmp 618 sl x targets x – 3 days (booked full profits at 630 the same day)

Punter Pfc – buy at cmp 254 sl x targets x – 3 days (booked full profits at 260 the same day)

Punter Bharti airtel – buy at cmp 279 sl x targets x – 3 days (booked full profits at 284 the same day)

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

Dii Jindal saw – buy at cmp 862 sl x targets x – 3 days (booked full profits at 875 the same day)

Jackpot Jindal steel – buy at cmp 650 sl x targets x – 3 days (booked full profits at 672 the same day)

Positional Nifty – buy at cmp 4830 sl 4771 targets 4950 – 2 days (booked full profits at 4915 the same day)

Positional Nifty 5000 ce – buy at cmp 95 sl 79 targets 135 – 2 days (booked full profits at 128 the same day)

Thursday’s Btst Gmdc – hit sl at 125 , long from 128.90

Thursday’s Stbt Icici bank – booked full profits at 860 , short from 883