morning thoughts..
The week begone saw a mild correction and extremely powerful pull back – a strong sign of a strong bull market.
Now we enter into a truncated week of trading with Wednesday a trading holiday on back of dr ambedkar jayenti , but this break is not going to affect the ongoing trend of the market.
Technically the parameters of the markets are quite strong and the charts doesn’t indicates any weakness on technical parameters , but demonstrates an over stretchy zone with overbought conditions on daily charts.
So as the markets goes up – it sets it self for a volatile reaction and choppiness , so the coming session is likely to be volatile , sluggish and choppy with individual stocks giving 15-20% intraday spurts.
So one needs to concentrate on select mid caps where the opportunities will be huge and large , whereas indices trading would provide fewer opportunities.
The strategy for a trader remains to buy on dips and be cautious at higher levels where a reaction looks probable.
On the lower side 5290 and 5250 remains as crucial cushion zones for any downfall and would provide good supports to any downfall where buying is justified.
On the upper side 5425 – 5450 remains as stiff resistance zones for any upmove and would find a reaction , a sustainable and followed up trading above this levels takes nifty and sensex into uncharted territory and we may witness quick and fast upmoves.
In past few sessions we are witnessing a typical trading pattern where indices move up and stocks remain still or show negative pattern and only side line counters about which a person is generally unaware moves 15-20%.
This sort of trading brings in irritation and frustration for a trader and he commits grave mistakes in incumbency and in trying to make and get success even if its not visible.
So one needs to be patient , careful , disciplined and focused on ones view and gains would be maxim.
The supports for the nifty is 5250 levels and resistance at 5450 levels
The supports for the sensex is at 17600 levels and resistance at 18400 levels.
Stocks to watch
Petronet lng , jet airways , dlf , bilt , ivrcl infra , jai corp looks good
www.astroeyes.co.cc
Friday’s calls sent via sms and messenger
Nifty – buy at cmp 5345 sl x targets x – holding
Nifty 5300 ce – buy at cmp 107 sl 100 targets 123 , went 133
Ivrcl infra – buy at cmp 176 sl 174 targets 180 , went 180.30
Dlf 340 ca – buy at cmp 10.50 sl 9 targets 14 , went 11.55
Rolta – buy at cmp 190.50 sl 188 targets 195 , went 194.90
Sail 240 ca – buy at cmp 7.55 sl 6.50 targets 10.50 , hit sl
Billionaire Drum Mahindra Gesco – buy at cmp 444 sl x targets x – booked full profits at 510
Billionaire Drum Prime Focus – buy at cmp 344 sl x targets x – booked full profits at 387
Billionaire Drum Geojit Financial – buy at cmp 38.50 sl x targets x – booked full profits at 44.50
Punter Jet airways – buy at cmp 495 sl x targets x – booked full profits at 515
Fii Ballarpur Industries – buy at cmp 33 sl x targets x – booked full profits at 37
Dii Ruchi Soya – buy at cmp 102.25 sl x targets x – booked full profits at 109.45
Jackpot Petronet Lng – buy at cmp 80.45 sl x targets x – booked full profits at 86
Parachute Triveni Eng – sell at cmp 136 sl x targets x – booked full profits at 131
Anchor Havells India – buy at cmp 625.50 sl x targets x – booked full profits at 648.75
Btst Pba Infra – buy at cmp 95.50 sl 93 targets 104 - holding
