The indices showed a two side movement with volatility and choppiness , a perfect obligation of a perfect analysis yet again.
Technically the trend is not yet compromised , but the f/o expiry will keep the indices and markets highly volatile.
Keeping apart day to day movement of the indices , we are posting a nifty daily chart which clearly shows a cluster pattern around 5100 levels with multiple resistance , above which the next resistance is visible and viable at 5180 levels which is also incidentally the high for the nifty in the recent past , above it the nifty can inch in an uncharted territory which can have targets as far as 5500 and 6100 in coming months.
Technically the trend is not yet compromised , but the f/o expiry will keep the indices and markets highly volatile.
Keeping apart day to day movement of the indices , we are posting a nifty daily chart which clearly shows a cluster pattern around 5100 levels with multiple resistance , above which the next resistance is visible and viable at 5180 levels which is also incidentally the high for the nifty in the recent past , above it the nifty can inch in an uncharted territory which can have targets as far as 5500 and 6100 in coming months.
However the resistance cluster zone of 5100 indicated by a green circle RR on the chart is a major supply zone for any upward move , where longs need to be cautious , above it the next viable supply zone is at the yellow circle.
On the lower side we have shown the short term major support zones at 4900 levels for any downfall indicated by a black circle STB , these levels are likely to provide cushions for any downfalls and is also a stoploss for short term longs , below it the pressure can increase and bears can take over and push the nifty to 4750 levels indicated by an orange circle SS.
In any case if these levels are breached and broken with a sustained trading , then levels of 4550 indicated by a purple circle LTS is a very fine and sure chance.
So from a trading point of view , one must simply and clearly keep the supports and resistance in mind , huge shorts are viable only below 4900 levels.
However short term gains can be made by small shorts around multiple higher resistance zones , but ones needs to be quick as fluctuations will be high with short covering and short squeeze at a rapid action process.
Any dip and correction would be a buying opportunity and one must accumulate close to support levels and maintain the crucial levels of 4900 as a stoploss for all longs.
One must keep watch for a breakout above 5100 and 5180 levels , a closing above 5195 will increase liquidity and spurt in indices.
Following the nifty charts many stock would behave in the same fashion , so one must adopt the same policy for high beta stocks as compared to low beta ones.
The supports for the nifty is at 5005 levels and resistance at 5120 levels.
The supports for the sensex is at 16700 levels and resistance at 17500 levels.
Stocks to watch
Grindwell , pratibha inds , tata coffee looks good
www.astroeyes.co.cc
Yesterday’s calls sent via sms and messenger
Secret Mascot Indotech transformers – buy at cmp 311.50 sl x targets x – 3 days (booked full profits at 328 the same day)
Fii Icici bank – buy at cmp 907 sl x targets x – 3 days (booked full profits at 913 the same day)
Jackpot Sail – buy at cmp 193 sl x targets x – 3 days (booked full profits at 195 the same day)
Dii Mphasis bfl – buy at cmp 696 sl x targets x – 3 days (booked full profits at 705 the same day)
Jackpot Bank of India – buy at cmp 390 sl x targets x – 3 days (booked full profits at 393 the same day)
Punter Sesa goa – buy at cmp 370 sl x targets x – 3 days (booked full profits at 374 the same day)
Dii Gail – buy at cmp 404 sl x targets x – 3 days (booked full profits at 407 the same day)
Punter Triveni engineering – buy at cmp 103.50 sl x targets x – 3 days (booked full profits at 104.50 the same day)
Btst Max India – buy at cmp 214.50 sl x targets x – holding
Stbt Punjlyod – sell at cmp 213.45 sl x targets x – holding
Lic – buy at cmp 859 sl 854 targets 875 , hit sl
Gmdc – buy at cmp 131.50 sl 129 targets 140 , hit sl
Tisco 580 ca – buy at cmp 6.85 sl 6 targets 9 , hit sl
On the lower side we have shown the short term major support zones at 4900 levels for any downfall indicated by a black circle STB , these levels are likely to provide cushions for any downfalls and is also a stoploss for short term longs , below it the pressure can increase and bears can take over and push the nifty to 4750 levels indicated by an orange circle SS.
In any case if these levels are breached and broken with a sustained trading , then levels of 4550 indicated by a purple circle LTS is a very fine and sure chance.
So from a trading point of view , one must simply and clearly keep the supports and resistance in mind , huge shorts are viable only below 4900 levels.
However short term gains can be made by small shorts around multiple higher resistance zones , but ones needs to be quick as fluctuations will be high with short covering and short squeeze at a rapid action process.
Any dip and correction would be a buying opportunity and one must accumulate close to support levels and maintain the crucial levels of 4900 as a stoploss for all longs.
One must keep watch for a breakout above 5100 and 5180 levels , a closing above 5195 will increase liquidity and spurt in indices.
Following the nifty charts many stock would behave in the same fashion , so one must adopt the same policy for high beta stocks as compared to low beta ones.
The supports for the nifty is at 5005 levels and resistance at 5120 levels.
The supports for the sensex is at 16700 levels and resistance at 17500 levels.
Stocks to watch
Grindwell , pratibha inds , tata coffee looks good
www.astroeyes.co.cc
Yesterday’s calls sent via sms and messenger
Secret Mascot Indotech transformers – buy at cmp 311.50 sl x targets x – 3 days (booked full profits at 328 the same day)
Fii Icici bank – buy at cmp 907 sl x targets x – 3 days (booked full profits at 913 the same day)
Jackpot Sail – buy at cmp 193 sl x targets x – 3 days (booked full profits at 195 the same day)
Dii Mphasis bfl – buy at cmp 696 sl x targets x – 3 days (booked full profits at 705 the same day)
Jackpot Bank of India – buy at cmp 390 sl x targets x – 3 days (booked full profits at 393 the same day)
Punter Sesa goa – buy at cmp 370 sl x targets x – 3 days (booked full profits at 374 the same day)
Dii Gail – buy at cmp 404 sl x targets x – 3 days (booked full profits at 407 the same day)
Punter Triveni engineering – buy at cmp 103.50 sl x targets x – 3 days (booked full profits at 104.50 the same day)
Btst Max India – buy at cmp 214.50 sl x targets x – holding
Stbt Punjlyod – sell at cmp 213.45 sl x targets x – holding
Lic – buy at cmp 859 sl 854 targets 875 , hit sl
Gmdc – buy at cmp 131.50 sl 129 targets 140 , hit sl
Tisco 580 ca – buy at cmp 6.85 sl 6 targets 9 , hit sl
