morning thoughts..

As said and expected the markets showed strength above 5300 and made a new 52 week high and managed to close above 5300 levels.
Technically the undertone and the direction of the markets are still up and the next logical targets are 5350 and 5400 on the nifty front.
However as the indices inches higher it sets itself for a reaction and profit booking , so one must be disciplined and cautious in their approach.
As the under current of the markets are bullish , it doesn’t warranties a big short or aggressive shorts at higher levels and calls for buy at dip strategy.
Todays markets witnessed a spurt in indices , whereas midcaps and heavyweights were losing ground , which indicates caution.
From a trading point of view , one must look for dips and select mid cap – cash scrips.
The supports for the nifty is at 5250 levels and resistance at 5350 levels.
The supports for the sensex is at 17400 levels and resistance at 18000 levels


Stocks to watch

Lic , ruchi infra , hindalco , bajaj hind looks good




Yesterday’s calls sent via sms and messenger

Triveni eng – buy at cmp 134.50 sl 133 targets 138 , went 139.20

Nifty 5300 ce – buy at cmp 105 sl 94 targets 125 , went 127.70

Dena bank – buy at cmp 79 sl 78 targets 82 , went 81

Friday’s Nifty – booked full profits at 5317 , long from 5280

Nifty – buy at cmp 5315 sl 5290 targets 5360 , booked profits at 5337

Punj lyod – buy at cmp 181 sl 179.50 targets 185 , hit sl

Hindalco 190 ca – buy at cmp 4.50 sl 4 targets 6.50 , went 5.60

Anchor Hindalco – buy at cmp 175 sl x targets x – 2 days (booked full profits at 184 the same day)

Anchor Nifty 5300 ce – buy at cmp 103 sl x targets x – 2 days (booked full profits at 127 the same day)

Parachute Ivrcl Infra – sell at cmp 167 sl x targets x – 2 days (booked full profits at 163 the same day)

Parachute Punj Lyod – sell at cmp 185 sl x targets x – 2 days (booked full profits at 179 the same day)

Punter Valecha Engeenering – buy at cmp 152 sl x targets x – 2 days (booked full profits at 165 the same day)

Fii Yes Bank – buy at cmp 253 sl x targets x – 2 days (booked full profits at 259 the same day)

Dii Ranbaxy – buy at cmp 482 sl x targets x – holding

Jackpot Icici Bank – buy at cmp 946 sl x targets x – holding

Btst Bajaj Hind – buy at cmp 135 sl 133 targets 142 - holding