As said and expected the markets continued its journey upwards but yet again saw some selling pressure near 5100 – 5125 levels which is a reactory zone for indices.
Technically the undertone of the markets remain bullish and strong and any down fall will find buying supports near 5050 levels on nifty front whereas will find selling pressure at 5150-5175 levels and is also a resistance and reactory zone for any upmove.
So one must be cautious at higher levels and try to buy intraday dips and concentrate on stock specific activities where gains in term of percentage will be more and faster.
Structurally the markets needs time to consolidate as it has run up too fast in no time after budget and a side ways move with consolidation will be considered health for the markets.
From a trading point of view , one must stay long and buy dips as long as 5000 on nifty holds and try to exit near the reactory zones.
The supports for the nifty is at 5050 levels and resistance at 5150 levels.
The supports for the sensex is at 16500 levels and resistance at 17400 levels.
Stocks to watch
Dlf , suzlon , jp associates , icici bank , petronet lng looks good
www.astroeyes.co.cc
yahoo id - pankajtechonline
Friday’s call sent via sms and messenger
Petronet lng – buy at cmp 76.20 sl 75 targets 79 , went 80.95
Nifty 5100 ce – buy at cmp 93 sl 85 targets 107 , hit sl
Idfc 165 ca – buy at cmp 4.05 sl 3.50 targets 6.50 ,went 4.80
Dlf 310 ca – buy at cmp 12.90 sl 11 targets 16 , went 16.30
Nifty – buy at cmp 5080 sl x targets x – holding
Thursday’s Warranty Rama pulp – buy at cmp 31.25 sl x targets x – booked full profits at 35.50
Warranty Dlf – buy at cmp 314 sl x targets x – holding
Thursday’s Warranty Gmdc – booked full profits at 153 . long from 142
Secret Mascot Core projects – buy at cmp 228 sl x targets x – booked full profits at 239
Fii Essar oil – buy at cmp 135.50 sl x targets x – booked full profits at 140
Dii Neyveli lignite – buy at cmp 163 sl x targets x – holding
Jackpot Suzlon – buy at cmp 80.50 sl x targets x – holding
Tuesday’s Secret Mascot Ranbaxy – booked full profits at 482 , long from 445
Tuesday’s Fii Punj lyod – booked full profits at 186 , long from 182
Thursday’s Dii Jp associates – booked full profits at 147 , long from 143
Thursday’s Jackpot Hdil – booked full profits at 322 , long from 313
