As said and expected the markets showed a two side movement and remained highly volatile.
We have cautioned huge shorts and huge longs and buying out of money calls at lower levels and the strategy has paid with a spurt in out of money call options, yet again a perfect analysis at work.
Technically the markets still remains in a vicinity of uncertainity with volatile swings and choppiness in days to come, moreover the nifty iv’s indicate a rangebound movement and a selling pressure at every rise and buying and short covering at every dips and lower levels – thus providing trading opportunities on both sides.
But again the same word – one must be quick and refrain from huge short positions at higher levels and huge long positions at lower levels , trading positions must be light , unleveraged and with a probable deeper stoploss as the volatility will try to flirt with stoplosses in turn hiting them.
So from a trading point of view , yet again one must but dips and short rallies and book quick or else positions will get stuck resulting in stoplosses been hit.
The supports for the nifty is at 5002 levels and resistance at 5125 levels.
The supports for the sensex is at 16700 levels and resistance at 17300 levels
Stocks to watch
Suzlon , rolta , ranbaxy , bharti airtel looks good
Ibrealest , dlf , lic looks weak
Yesterday’s calls sent via sms and messenger
Gail – buy at cmp 399.50 sl 397 targets 406 , went 411.70
Nifty – sell at cmp 5030 sl 5052 targets 4990 , went 5004
Sail – buy at cmp 210.50 sl 209 targets 215 , hit sl
Nifty 5000 pe – buy at cmp 98 sl 91 targets 115 , went 106
Bharti 330 ca – buy at cmp 7.70 sl 7 targets 10 , went 8.75
Idfc – sell at cmp 153 sl 154 targets 150 , went 151.05
Icici bank – sell at cmp 818 sl 825 targets 805 , hit sl
Btst Gail – buy at cmp 405 sl 402 targets 412 , hit targets the same day
Stbt Litl – sell at cmp 563 sl 568 targets 552 , hit targets the same day
Secret Mascot Rolta – buy at cmp 183.50 sl x targets x – 2 days (booked full profits at 187 the same day)
Punter Bharti airtel – buy at cmp 323 sl x targets x – 2 days (booked full profits at 327 the same day)
Jackpot Punj lyod – buy at cmp 202 sl x targets x – holding
Fii Ranbaxy – buy at cmp 522 sl x targets x – 2 days (booked full profits at 527 the same day)
Dii Biocon – buy at cmp 273 sl x targets x – 2 days (booked full profits at 276 the same day)
