morning thoughts..
We said of a reactive zone and profit booking as the markets inches higher , well the markets behaved as expected and saw a reaction at higher zones on profit taking.
Technically the picture remains the same and some more reactions and profit booking is likely as the markets inches higher , so one still needs to refrain from huge indices trading and concentrate on stock specific activity where gains are likely to be more and huge in comparison to indices trading.
Historically first half of January is sluggish and generally weak and give opportunities for build up ahead of budget and this time is no different , so one needs to accumulate stocks ahead of a pre – budget rally.
Sectors like fertilizers are seeing good build up on f/o side and could give a spurt of 5-10% shortly .
From a trading point of view , one still needs to be cautious on higher side and buy stocks at dips.
The supports for the nifty is 5240 levels and resistance at 5350 levels.
The supports for the sensex is at 17300 levels and resistance at 17900 levels.
Stocks to watch
Ivrcl infra , chambal fertilizers , nagarjuna fert , petronet lng , unitech looks good
Yesterday’s calls sent via sms and messenger
Triveni eng – buy at cmp 114.50 sl 113 targets 118 , went 116.90
Icici bank – buy at cmp 902 sl 898 targets 913 , went 907.35
Icici 900 ca – buy at cmp 33 sl 30 targets 39 , went 37.60
Bank nifty – buy at cmp 9177 sl 9161 targets 9215 , went 9249
Btst Ivrcl infra – buy at cmp 367 sl 364 targets 373 – holding
Fii Praj inds – buy at cmp 108.50 sl x targets x – holding
Jackpot Jp associates – buy at cmp 162.50 sl x targets x – holding
Dii Opto circuits – buy at cmp 241 sl x targets x – holding
Punter Nagarjuna fertilizers – buy at cmp 35.40 sl x targets x – holding
Secret Mascot Sci – buy at cmp 160.50 sl x targets x – 2 days (booked full profits at 164 the same day)
Punter Petronet lng – buy at cmp 76.40 sl x targets x – holding
Tuesday’s Jackpot Bajaj hind – booked full profits at 237 , long from 233
Tuesday’s Jackpot Suzlon – booked full profits at 94 , long from 92.50
