The indices remained rangebound between 5090-5140 on nifty front and provided minimal trading opportunities on indices front , whereas good movements were witnessed in stock specific and side line counters were buzzing in tune to 10-20%
Technically the markets are in consolidation phase after a fast movement after the budget and looks like a sideways movement in the coming sessions with huge volatility and a range bound trade.
The undertone of the markets are still bullish and strong and doesn’t warrant huge shorts at the current levels as 5100 as emerged as a strong support of nifty , so it must be assumed as a crucial level and one must buy dips close to 5090-5080 with a strict stoploss below 5050 which is rock solid support , below it the nifty turns weak and a steep fall can be witnessed.
On the upside 5150 remains as a stiff resistance zone and anymove above 5150 with volumes and a sustained trade will confirm a breakout whose next logical targets can be viewed at 5250-5300 levels atleast.
Yesterday we had cautioned not to short and buy at dips and a fast profit booking at higher levels , well the markets gave a perfect obligation and the nifty bounced from 5100 levels each time and made highs near 5140 levels with pivot at 5120.
The same can be witnessed today , so the better strategy remains to buy around 5090 levels and sell near 5140 levels , above 5150 no short positions must be held and equally below 5050 no long positions must be held.
The supports for the nifty is at 5080 levels and resistance at 5150 levels.
The supports for the sensex is at 16800 levels and resistance at 17400 levels.
Stocks to watch
Triveni eng , brfl , mcloed russel , yuken India , acc looks good
www.astroeyes.co.cc
Yesterday’s calls sent via sms and messenger
Nifty – buy at cmp 5105 sl 5080 targets 5155 (booked full profits at 5137)
Idfc – buy at cmp 162 sl 161 targets 166 , went 165.50
Idfc 165 ca – buy at cmp 2.85 sl 2.50 targets 4.50 , went 4.10
Rajesh exports – buy at cmp 104.50 sl 103 targets 110 , went 110.10
Anant Raj inds – buy at cmp 140 sl 138 targets 145 , hit sl
Warranty Sun Tv – buy at cmp 415 sl x targets x – holding
Warranty Zylog Systems – buy at cmp 365 sl x targets x – booked full profits at 390
Warranty Tata elxi – buy at cmp 290 sl x targets x – booked full profits at 303
Secret Mascot Force Motors – buy at cmp 304 sl x targets x – booked full profits at 350
Punter Icici Bank – buy at cmp 924 sl x targets x – holding
Fii Triveni Eng – buy at cmp 118 sl x targets x – holding
Dii Suzlon – buy at cmp 78 sl x targets x – holding
Jackpot Acc – buy at cmp 992 sl x targets x – booked full profits at 1015
