The ultimate synchrozing pendulum of a cyclical bull market with the penelope of trapping travellers on both sides of journey , neither giving them their destination , nor telling them that the path is over , the path is still visible , long but bumpy with a mirage of destination..
The markets are just a perfect synopsis of a tired traveller I visited on hills of south –east last year while I was enjoying trekking on the bumpy and hilly path as it was my passion and hobby- thus making my journey soothing and enjoyable , on the other side was the traveler who was finding it difficult to overture the topsy turvy hills of south – eastern hemisphere – a strong co – relation of human nature – which stays and remains the same in every aspect of life – a pessimist and his cousin an optimist—we have both in this world.
So similarly bulls and bears are driving the market and giving opportunity to both people to trade on both and long sides , but the trick is swiftness and quickness in adaption, any failure in adaption process or a rigid mental process to accept the situation will lead to undisputed butchering.
Technically the markets tend to remain sideways with more profit booking on the way , on the lowerside 4800 is a major and strong support for downfalls and is likely to provide some cushions.
On the upside major and stiff resistance is visible around 4925 levels where selling pressure can again dominate.
So one has opportunities to buy on dips and sell on rallies – but quick profits and trail proper stoplosses.
Now we are just 3 days away from the union budget and news from all corners will keep markets volatile and fluctuating , we would like to avoid playing budget themes just for the sake of 1-2 days , as once stuck in those stocks will have to keep the belly heavy for 1 year.
From a trading point of view , one must watch the crucial supports and resistances closely and buy dips and sell rallies and be quick to revert each trades accordingly.
The supports for the nifty is at 4800 levels and resistance at 4925 levels.
The supports for the sensex is at 16200 levels and resistance at 16800 levels.
Stocks to watch
Indotech transformers , sadbhav engineering , shree cements , jp associates looks good at dips
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Yesterday’s calls sent via sms and messenger
Sail – buy at cmp 211 sl 210 targets 214 , went 213.45
Surana inds – buy at cmp 227 sl 225 targets 332 , went 337
Dena bank – buy at cmp 77 sl 76 targets 80 , went 79.85
Nifty 4900 ce – buy at cmp 48 sl 42 targets 64 , hit sl
Jp associates 135 ca – buy at cmp 1.80 sl 1.50 targets 2.80 , went 2.75
Sail 210 ca – buy at cmp 4.20 sl 3.60 targets 6 , went 5.40
Warranty Jp associates – buy at cmp cmp 133 sl x targets x – 2 days (booked full profits at 135 the same day)
Warranty Ranbaxy – buy at cmp 440 sl x targets x – (booked full profits at 450)
Secret Mascot Indotech Transformers – buy at cmp 310 sl x targets x – 2 days (booked full profits at 325 the same day)
Punter Renuka sugars – buy at cmp 182 sl x targets x – 2 days (booked full profits at 186 the same day)
Fii Neyveli lignite – buy at cmp x sl x targets x – holding
