As said and expected the indices saw selling pressure at higher levels and took initial supports around 5200 levels on nifty front.
Technically there is no signs of strength as of yet , though we are near to support zones and should find supports around 5180-5150 levels on nifty front.
So from a trading point of view any dip now could be used to create longs with a stoploss below 5150 , any close and sustained move below 5150 will negate the ongoing uptrend and may open gates to 5050 levels.
On the upside strong resistance exists around 5300 levels and a sustained move above 5325 levels will exert a spurt to 5380 levels on the nifty front.
Historically first 15 days of January is a weak period and is accumulation zone ahead of budget , moreover we are on support zones , so a bounce back is not ruled out.
The supports for the nifty is at 5180 levels and resistance at 5250 levels.
The supports for the sensex is at 17050 levels and resistance at 17700 levels.
Stocks to watch
Pfc , hcc , rolta looks good
Yesterday’s calls sent via sms and messenger
Unitech – buy at cmp 89.50 sl 88.70 targets 92 , went 91.30
Nifty – buy at cmp 5243 sl 5225 targets 5285 , hit targets like a dot , went 5285
Unitech 90 ca – buy at cmp 3.65 sl 3.20 targets 4.50 , went 4.45
Nifty 5200 ce – buy at cmp 116 sl 110 targets 130 , went 137.50
Suzlon – buy at cmp 93.70 sl 92.90 targets 95.50 , hit targets like a dot , went 95.50
Sail – buy at cmp 238 sl 236.50 targets 241 , went 242.65
Btst Ivrcl infra – buy at cmp 388.50 sl 385 targets 395 , went 395.90 the same day
Jackpot Bajaj hind – buy at cmp 230 sl x targets x – 2 days (booked full profits at 235 the same day)
Fii Bharti airtel – buy at cmp 331 sl x targets x – 2 days (booked full profits at 334 the same day)
Dii Lic – buy at cmp 834 sl x targets x – 2 days (booked full profits at 842 the same day)
Punter Hcc – buy at cmp 156 sl x targets x – holding
Secret Mascot Pfc – buy at cmp 264 sl x targets x – 2 days (booked full profits at 271 the same day)
Wednesday’s Punter Nagarjuna fertilizers – booked full profits at 36.80 , long from 35.40
