We were expecting a lower opening with negative bias and the markets behaved as expected.
Technically the markets have remained under pressure and felt huge resistance at 5250 levels , however the nifty has managed to stay above 5200 levels.
The index is likely to remain under pressure for some more sessions and would trade side ways in consolidation mode.
On the lower side 5160 would act as major support for any downfalls , so below 5200 – a convincing short can be created , below 5190 the pressure would increase , however one must be cautious at 5160 levels and try to cover shorts , only below 5145 , shorts can again be created.
On the upside resistance exists around 5275 levels.
So the indices now gives opportunities to trade ranges and volatility.
From a trading point of view , one can buy near to 5210 levels with a stoploss below 5190 levels and exit near resistance levels, similarly shorts can be created on breach of 5190 or near resistance levels.
One must keep in mind that such trades are very volatile and requires quick action and reaction and correct mentatilty and attitude to adapt to the situation and be flexible in ones action, any stiffness will lead to trap.
Stocks to watch
Sail , zylog , geodesic info , ekc , tulip it looks good
www.astroeyes.co.cc
Yesterday’s calls sent via sms and messenger
Nifty – sell at cmp 5236 sl 5261 targets 5160 – booked full profits at 5211
South bank – buy at cmp 151.50 sl 149 targets 155 , went 161.80
Nifty 5200 pe – buy at cmp 92 sl 85 targets 108 , went 109.60
Punter Sail – buy at cmp 220 sl x targets x – holding
Fii Ibrealest – buy at cmp 172 sl x targets x – booked full profits at 176 , also given as free group sms
Dii Suzlon – buy at cmp 69.50 sl x targets x – holding
Jackpot Essar oil – buy at cmp 140 sl targets x – booked full profits at 142
Billionaire Drum Petronet lng – buy at cmp 80.50 sl x targets x – booked full profits at 84 , also given as free group sms
Billionaire Drum Triveni eng – buy at cmp 111.40 sl x targets x – booked full profits at 113 , also given as free group sms
Billionaire Drum Cairn India – buy at cmp 317 sl x targets x – booked full profits at 321 , also given as free group sms
