The railway budget kept the markets rangebound within 4800-4900 levels , making the markets boring and volatile , though some stock specific movement was visible.
Technically nothing has changed in market view and the markets tends to stay sideways and in range with intraday volatility.
On the lower side 4800 remains as strong crucial supports and is also a stoploss for all long positions , on the upside 4900 remains as stiff resistance zone on nifty front, any move above 4900 will require a closing above 4955 levels , until then the crossover could be a deception and bull trap.
If the markets breach 4800 ,then I would watch 4745 levels , if the markets stays above this levels and retests 4800 , then shorts will get trapped , so one must refrain from huge shorts till nifty remains above 4745 levels.
Structurally the markets will remain in a range and sideways movement , so one must focus on stock specific movements , indices trading is giving opportunities for quick trades on both long and short trades , a buy on intraday dips and sell on rise with quick reversion and profit booking with 20-25 points , greed and anticipation for more will lead to losses.
Astrologically mercury enters 4th house of pisces for 235 days which is very unusual , this will keep markets undecided and deceptive , so one need to be very cautious as it will lead to huge deception on both sides.
From a trading point of view , I would watch the crucial levels mentioned and trade on both sides accordingly with quick reversion.
The supports for the nifty is at 4800 levels and resistance at 4900 levels.
The supports for the sensex is at 15900 levels and resistance at 16500 levels.
Stocks to watch
Ansal infra , hindalco ,rallis india , idea , tata power , hanung toys looks good
Yesterday’s calls sent via sms and messenger
Nifty – buy at cmp 4855 sl 4832 targets 4890 , went 4884
Sail – buy at cmp 206 sl 204.50 targets 210 , went 210.10
Ibrealest 160 ca – buy at cmp 2.10 sl 1.75 targets 3.50 , went 3.70
Icici bank 840 ca – buy at cmp 12 sl 10.50 targets 15 , hit sl
Hanung toys – buy at cmp 121.50 sl 120 targets 124 , went 125
Secret Mascot Rallis India – buy at cmp 1345 sl x targets x – 2 days (booked full profits at 1380 the same day)
Punter Tata Elxi – buy at cmp 264 sl x targets x – 2 days (booked full profits at 271 the same day)
Fii Divis Lab – buy at cmp 584 sl x targets x – 2 days (booked full profits at 602 the same day)
Dii Bajaj hind – sell at cmp 150 sl x targets x – 2 days , hits sl at 154
Jackpot Niit Tech – sell at cmp 175 sl x targets x – 2 days (booked full profits at 172 the same day)
Warranty Pfc – buy at cmp 233 sl x targets x – 2 days (booked full profits at 240 the same day)
Warranty Ibrealest – buy at cmp 156.50 sl x targets x – 2 days (booked full profits at 161 the same day)
Warranty Hanung toys – buy at cmp 121.50 sl x targets x – 2 days (booked full profits at 124 )
Warranty Tata Power – buy at cmp 1264 sl x targets x , hits sl at 1250
Warranty Ansal infra – buy at cmp 67 sl x targets x - holding
