As said and expected the markets saw a desired bounce back and opened with a bull gap and remained strong throughout the day with volatility and swings.
Technically the trend is still up and the indices can see some more upsides , however last trading session saw the nifty face stiff resistance around 5100 levels , which now remains as a crucial levels on the upside.
So we may witness a reaction and profit booking at these levels , so one needs to be cautious on longs at resistance zones.
On the lower side major supports exists around 4900 levels which is likely to provide cushion to any downfalls.
The coming session will yet remain volatile and would see wild fluctuations , so one needs to be quick on their trades or else stoplosses will get triggered on both sides.
From a trading point of view I would be cautious on resistance zones and look for intraday dips and book quick profits.
The supports for the nifty is at 4975 levels and resistance at 5120 levels.
The supports for the sensex is at 16700 levels and resistance at 17500 levels.
Stocks to watch
Titan , bajaj hind , tisco looks good
Yesterday’s calls sent via sms and messenger
Nifty – sell at cmp 5018 sl 5036 targets 4975 (booked profits at 5008)
Nifty – buy at cmp 5010 sl 4972 targets 5090 (booked profits at 5066)
Hdil – buy at cmp 322 sl 319 targets 331 , went 330.90
Nifty 5100 ce – buy at cmp 104 sl 87 targets 150 , (booked profits at 122)
Secret Mascot Tata steel – buy at cmp 567 sl x targets x – 3 days (booked full profits at 581 the same day)
Fii Bharti airtel – buy at cmp 296 sl x targets x – holding
Jackpot Gmdc – buy at cmp 131 sl x targets x – 3 days (booked full profits at 142 the same day)
Punter Bajaj hind – buy at cmp 214 sl x targets x – 3 days (booked full profits at 217 the same day)
Dii Punj lyod – sell at cmp 203 sl x targets x – 3 days (booked full profits at 198 the same day)
Friday’s Fii Idfc – booked full profits at 163 , long from 160
Btst Hind zinc – buy at cmp 1165.45 sl x targets x – holding
Stbt Glenmark pharma – sell at cmp 241 sl x targets x - holding
