We said that the upward move would continue , as the markets had managed a close above 5186 and the markets gave a perfect obligation and managed to cross 5200 and saw some resistance near 5250 levels on the nifty front.
Technically the markets are now in an overstretched zone and can see some more upsides but the zones are ripe for a reaction and we can witness a corrective mode and profit booking anytime.
However the markets are in a bullish zone and much and aggressive shorting is not warranted, so the right strategy is to pick good scrips as momentum looks more and fast there.
For index based trading the volatility index needs to be below 21 for the bullish trend to continue.
So one needs to buy out of money call options as it looks safe and secure.
The supports for the nifty is at 5150 levels and resistance at 5275 levels.
The supports for the sensex is at 17100 levels and resistance at 17900 levels.
Stocks to watch
Boc India , ttk prestige , jp associates , unitech , praj inds looks good
www.astroeyes.co.cc
Yesterday’s calls sent via sms and messenger
Praj inds – buy at cmp 78.70 sl 78 tar 81 , went 80.90
Punj lyod – buy at cmp 117 sl 115.50 tar 120 , went 122.50
Essar oil - buy at cmp 129 sl 127.50 tar 133 , hit sl
Nifty 5200 ce – buy at cmp 57 sl 51 tar 70 , went 79.50
Nifty – buy at cmp 5200 sl 5176 tar 5245 , went 5245.25
Monday’s Nifty – buy at 5155 – holding
Sail 200 ca – buy at cmp 5.70 sl 5 tar 8.50 , went 6.40
Monday’s Punter Tisco - booked at 491 , long from 480
Monday’s Fii Dena Bank – booked full profits at 94 , long from 92
Monday’s Dii Walchandnagar inds - booked full profits at 213 , long from 198
Monday’s Jackpot Rnrl – booked full profits at 64 , long from 53.50
Monday’s Billioniare Drum Rill - booked full profits at 934 , long from 810
Monday’s Billionaire Drum Enil – booked full profits at 247 , long from 225
