The indices opened with a bull gap but couldn’t sustain at higher levels and yet again reacted from the stiff and high resistance zone of 5300 on nifty front.
The indices still looks weak and can see some more selling pressure at higher levels and some buying supports at 5180-5200 levels .
So any rise and upmove to 5300 – 5320 would meet some selling pressure and could be used as an opportunity to sell , however the moves will be quick , so one needs to refrain from huge shorts , as a sustained move and closing above 5325 will bring in fresh momentum.
Dips to 5225- 5200 should be used to create longs with a stoploss below 5180 which seems to be a strong support zone to deal with.
Technically the indices are finding it tough to sustain above 5290 levels and a scattered dispersion is emerging on charts , which indicates a weak , range bound movement with a sudden breakout, so one needs to be cautious on both longs and shorts and concentrate on stock specific activities.
The supports for the nifty is at 5225 levels and resistance at 5300 levels.
The supports for the sensex is at 17200 levels and resistance at 17800 levels.
Stocks to watch
Unitech , nagarjuna fertilizers , praj inds bharti ship , abg ship looks good
Yesterday’s calls sent via sms and messenger
Nifty – sell at cmp 5292 sl 5307 targets 5265 , went 5248.15
Nifty 5200 pe – buy at cmp 62 sl 56 targets 75 , went 73.70
Petronet lng – buy at cmp 78 sl 77 targets 80 , went 80.55
Unitech 90 ca – buy at cmp 3.50 sl 3.20 targets 4.50 , went 4.40
Jackpot Hanung toys – buy at cmp 118.90 sl x targets x -2 days (booked full profits at 122.20 the same day)
Fii Pvp ventures (sofsol) – buy at cmp 29.10 sl x targets x – 2 days (booked full profits at 30.40 the same day)
Rolta – buy at cmp 196.20 sl 195 targets 199 , went
Unitech – buy at cmp 88.50 sl 88 targets 91 , went 91.05
Dii Dlf – buy at cmp 400 sl x targets x – holding
Punter Ivrcl infra – buy at cmp 389 sl x targets x – 2 days (booked full profits at 394 the same day)
Secret Mascot Ibrealest – buy at cmp 234 sl x targets x – holding
Btst Sci – buy at cmp 165.50 sl 164.35 targets 168 , booked the same day at targets , went 171
Btst Lic – buy at cmp 834 sl 830 targets 845 , booked the same day at targets , went 845
