morning thoughts..
We said of the selling pressure at higher levels and supports at 5180 levels on the nifty front and buying closer to this levels , well the nifty took supports exactly at our zones and bounced like a spring as expected.
Technically the nifty has taken supports at 60 dema and looks like 5180-5150 is a very strong support zone and a crucial levels to deal with , so any downfalls will get cushion at this points.
The last hour witnessed a short covering rally and in turn short squeezed short positions , we may witness some more short covering in the coming session and the nifty may inch closer to stiff resistance zones of 5300 , which remains as a crucial barrier to deal with and is a reactory zone for the indices.
Anyhow the indices will re attempt to test those levels again in the coming sessions.
Any dip or any fall is an opportunity to create longs and take positions in out of money call options which looks safe at this juncture.
From a trading point of view , one should still refrain from huge shorts and wait for nifty to inch towards the resistance zones of 5300-5315 where some shorts can be created , but again needs to be booked quick and fast as the movements will be deceptive.
The supports for the nifty is at 5205 levels and resistance at 5300 levels.
The supports for the sensex is at 17100 levels and resistance at 17900 levels.
Saturn turns retrograde on January 13 and all of us will feel the energy of Saturn retrograde in Libra in one way or another. Saturn is charged with the duty of teaching us our lessons in life -- giving us the ability to grow and persevere, granting us the will to succeed and the strength to accomplish the tasks at hand. As we learn, we are rewarded by Saturn when the lesson or job is done.
The energy of Saturn retrograde is a fairly powerful force. This is an excellent time to grasp that retrograde energy, to bring projects to completion, and to let go of old problems and issues. By letting go of self-limitations, the future becomes more exciting and clear.
While this may not be the best time to launch new projects, it is a fabulous time to start working on those plans -- particularly because of the Libra energy entwined in this retrograde. The plans you make now, if the foundation you have built is solid, will most likely begin to manifest when Saturn goes direct on May 30, 2010
Stocks to watch
Sasken comm , biocon , alchemist looks good
www.astroeyes.co.cc
Yesterday’s calls sent via sms and messenger
Rolta – buy at cmp 197.50 sl 196 targets 202 , went 203.75
Nifty – buy at cmp 5190 sl 5173 targets 5235 , went 5248.40
Ivrcl infra – buy at cmp 384 sl 381 targets 391 , hit sl
Nifty 5100 ce – buy at cmp 143 sl 135 targets 160 , went 179.50
Essar oil – buy at cmp 150.50 sl 149 targets 154 , went 154.10
Hindoil – buy at cmp 311.50 sl 309 targets 318 , hit sl
Unitech 90 ca – buy at cmp 2.30 sl 2 targets 3.50 , went 3.30
Btst Unitech – buy at cmp 86.85 sl 86 targets 89 , booked the same day , went 89.15
Tisco 620 ca – buy at cmp 22.55 sl 22 targets 27 , went 34.50
Tisco – buy at cmp 627 sl 624 targets 635 , went 641.80
Fii Jp associates – buy at cmp 161 sl x targets x – 2 days (booked full profits at 163.50 the same day)
Dii Pfc – buy at cmp 272 sl x targets x – holding
Punter Punj lyod – buy at cmp 213 sl x targets x – holding
Jackpot Sail – buy at cmp 236 sl x targets x – 2 days (booked full profits at 241 the same day)
Secret Mascot Alchemist – buy at cmp 179 sl x targets x – 2 days (booked full profits at 191 the same day)
