morning thoughts..
The indices traded with huge volumes of 1 lac crore and 30 lac below 5200 , the double of daily average trading voumes and breached the crucial supports at 5150 levels and cracked like nine pins and saw a steep slide.
Technically the indices have broken a crucial support zone with volumes and many stock specific and individual sectors giving off sharp gains in latter part of the day , which indicates some more weakness on cards before it finds a strong support.
The markets awaits some heavies results today which will have a big impact on the markets and will keep the markets deciding and volatile, results at par or above expectations will give supports to the markets and anything poor will result in further crack , so one must be light in their positions.
However 5000 on nifty front is strong base zone and would provide some cushions to the markets , below which the nifty can see a good crack.
From a trading point of view , one must keep watch on 5000 levels and stay light in position until and unless a strong support zone emerges.
The supports for the nifty is at 5000 levels and resistance at 5125 levels.
The supports for the sensex is at 16600 levels and resistance at 17500 levels.
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Yesterday’s calls sent via sms and messenger
Sail – buy at cmp 237.50 sl 235.90 targets 242 , went 241.50
Sail 240 ca – buy at cmp 4 sl 3.50 targets 6 , went 6.30
Rolta – buy at cmp 202 sl 200.50 targets 206 , went 205.70
Tisco – buy at cmp 650 sl 646 targets 660 , went 656.70
Tisco 660 ca – buy at cmp 8.25 sl 7.50 targets 11 , went 12
Bajaj hind – buy at cmp 214 sl 212 targets 219 , hit sl
Nifty – buy at cmp 5198 sl 5177 targets 5245 , hit sl
Btst Lic – buy at cmp 813 sl 810 targets 822 , booked the same day , went 832
Stbt Unitech – sell at cmp 83.90 sl 85 targets 81 ,booked the same day , went 80.65
Wednesday’s Punter Bharti – booked full profits at 332.50 , long from 328
Wednesday’s Jackpot Patel eng – booked full profits at 493 , long from 485
