The indices yet again opened with a bull gap and remained confined in a trading range with no major movement and oppurtunities in indices trading , however providing ample and good oppurtunity in stock specific trading.
Many sectors and stocks are seeing fresh breakout amidst range bound markets , so one needs to concentrate on individual stocks rather than indices trading.
Technically the undertone of the markets are still bullish and as long as 5150 on nifty front is held , the markets are assumed to be up , above 5310 , the next logical targets for the nifty is at 5376 , however this zone is a stiff and high resistance reaction prone zone , so as the indices inches higher ,it set itselfs for a reaction.
So one needs to be cautious at indices trading and concentrate on individual stocks where returns are likely to be higher and quicker .
A typical bull market where sector rotation is the flavour is witnessed , is the essence of the current markets , and we are witnessing each and every sector showing divergence after some days , amongst which metals , power ,infra is seeing tremendous strength.
From a trading point of view , one needs to be cautious on indices and buy stocks at dips .
The supports for the nifty is at 5250 levels and resistance at 5325 levels.
The supports for the sensex is at 17300 levels and resistance at 17900 levels.
Stocks to watch
Ifci , punj lyod , jp associates looks good
Yesterday’s calls sent via sms and messenger
Ifci 60 ca – buy at cmp 2.25 sl 1.95 targets 3.50 , went 2.90
Sail – buy at cmp 250.50 sl 249 targets 254 , went 257
Boi – buy at cmp 399 sl 397 targets 405 , hit sl
Sail 250 ca – buy at cmp 10.50 sl 10 targets 13 , went 14.45
Idfc 160 ca – buy at cmp 4.60 sl 4.35 targets 5.50 ,went 7.40
Nifty – buy at cmp 5280 sl 5265 targets 5310 , hit sl
Suzlon – buy at cmp 91.50 sl 89.50 targets 93.50 , went 93.25
Idfc – buy at cmp 156.50 sl 155.50 targets 159 , went 162.90
Jp associates – buy at cmp 158.50 sl 157 targets 161 , went 163.75
Tisco – buy at cmp 646 sl 643 targets 652 , went 654.80
Fii Neyveli lignite – buy at cmp 161 sl x targets x – 2 days (booked full profits at 164 the same day)
Jackpot Bajaj hind – buy at cmp 233 sl x targets x – holding
Dii Ifci – buy at cmp 57.60 sl x targets x – 3 days (booked full profits at 59 the same day)
Punter Mphasis bfl – buy at cmp 743 sl 735 targets x – 2 days (hit sl at 735)
Secret Mascot Unitech – buy at cmp 84 sl x targets x – holding
Punter Rpower – buy at cmp 156.50 sl x targets x – 2 days (booked full profits at 160 the same day)
Jackpot Suzlon – buy at cmp 92.50 sl x targets x – holding
Monday’s Secret Mascot – booked full profits at 114 , long from 110
Monday’s Punter Punj lyod – booked full profits at 214 , long from 207
Monday’s Dii Essar oil – booked full profits at 147 , long from 142.50
Monday’s Jackpot Hcc – booked full profits at 152 , long from 147
Monday’s Fii Idfc – booked full profits at 159 , long from 155
Last Tuesday’s Fii Tanla Solutions – booked full profits at 64.30 , long from 61
