morning thoughts..

The markets are displaying a perfecy synopsis and attire of a pendulum , in a topsy turvy land.
The markets are clearly undecided and in no mood of a perfect direction and the situation is likely to continue until budget and immediately after that we will create a synopsis of quarterly results for the companies.
So overall the period is likely to be tough for the indices and traders , who are getting stopped on both sides.
Technically the markets have maintained our crucial support levels of 4737 and has sustained above and managed to trade above 4800 levels , which is a healthy sign and has trapped lots of shorts in the last hour of trade.
On technical parameters and charts the indices can squeeze some more shorts and more short covering can be witnessed in coming sessions.
However it doesn’t gives any indication that the markets will move into strong hands and will trade freely above 5000 levels , the nifty will face stiff and hard resistance around 4950 – 5000 levels.
A successive crossover of the levels will see logical targets of 5050 in and around budget , on the downside 4700 will act as a major support zone.
So it can be assumed that the indices will probably trade in a range with strong reflective volatility on both sides.
So from a trading point of view , one should look at dips to go long and use big rises to short and use proper stoplosses , same strategy is to be applied in stocks , with buying in oversold stocks ..
The supports for the nifty is at 4750 levels and resistance at 4900 levels.
The supports for the sensex is at 15900 levels and resistance at 16700 levels.




Yesterday’s calls sent via sms and messenger

Triveni eng – sell at cmp 120.80 sl 122 targets 118 , went 119.70

Tisco – buy at cmp 543 sl 540 targets 550 , went 550.40

Tisco 540 ca – buy at cmp 17 sl 15 targets 21 , went 21.25

Nifty – buy at cmp 4807 sl 4796 targets 4840 , went 4893.50

Nifty 4800 ce – buy at cmp 81 sl 75 targets 97 , went 131.50

Warranty Acc – buy at cmp 898 sl x targets x – holding – also given as a free call on yahoo messenger

Warranty Tisco – buy at cmp 542 sl x targets x – booked full profits at 550 – also given as a free call on yahoo messenger

Warranty Punj lyod – buy at cmp 177 sl x targets x – booked full profits at 181- also given as a free call on yahoo messenger

Warranty Gmdc – buy at cmp x sl x targets x – holding – also given as a free call on yahoo messenger

Warranty Balrampur chini – buy at cmp x sl x targets x – holding - also given as a free call on yahoo messenger

Btst Bombay dyeing – buy at cmp 525 sl 521 targets 540 - holding

Secret Mascot Varun inds – buy at cmp 149 sl x targets x – 2 days (booked full profits at 163 the same day)

Punter Ahmadnagar forgings – buy at cmp 117 sl x targets x – 2 days (booked full profits at 123 the same day)

Fii Ranbaxy – buy at cmp 425 sl x targets x – 2 days (booked full profits at 439 the same day)

Dii Hoec – buy at cmp 257 sl x targets x – 2 days (booked full profits at 263 the same day)

Jackpot Gujarat Alkalies – buy at cmp 125 sl x targets x – 2 days (booked full profits at 131 the same day)