morning thoughts..

Yet again the markets opened with a bull gap and managed to inch higher on persistent optimism and buying interest.
The transit of Uranus and mars can be a bit deceptive as it creates over optimism and mirage , moreover the markets looks a bit over stretched and tired on higher levels and as it moves up it sets itself for a reaction.
However the undertone of the markets remain bullish but now we can see small and midcaps to perform and the indices to remain subdued and trade with pressure in a negative territory.
Technically the cboe volatility index is again near 28 and pcr up to 2 , which can create pressure on the markets.
So taking an alternate view one must look at strong rsi midcaps and buy out of money call options , if they get a good intra day dip.
From a trading point of view , I would be cautious at higher levels ,concentrate on select midcaps and buy out of money call options at intra day dips.
The supports for the nifty is at 5235 levels and resistance at 5375 levels.
The supports for the sensex is at 17300 levels and resistance at 17900 levels.


Stocks to watch

Astrazenca pharma , ashapura minchem , Pfizer , ing vysya bank , gati , dlf looks good

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ALL RATES OF ALL PACKAGES GETS HIKED FROM 1 JULY 2010


Yesterday’s calls sent via sms and messenger

Nifty – buy at cmp 5297 sl 5286 targets 5250 , went 5247

Nifty 5400 ce – buy at cmp 58 sl 53 targets 82 , went 79

Bajaj hind – buy at cmp 115 sl 113.50 targets 120 , went 119.50

Tisco – buy at cmp 492 sl 489 targets 502 , went 500.50

Tisco 500 ca – buy at cmp 16.75 sl 15 targets 22 , went 21

Btst Gtl infra – booked at 48 , long from 43

Btst sasken – booked at 197 ,long from 186