Well the markets panned out in an exactly same pattern and manner as we discussed yesterday and there was a load of panic and capitulisation on the screen.
The markets slipped and tried and retest the recent lows of 2011 and bounced to cover some ground.
Technically we have again moved into and oversold zone and very near to support levels of 4800 from where we expect a bounce to come.
However any bounce will be highly volatile and will keep the markets swinging like a pendulum.
Astrologically Tuesday being an amayasya mahalya – new moon day also supports markets for the long side for the near term.
So from a trading point of view our strategy remains the same as discussed earlier.
The supports for the nifty is at 4800 levels and resistance at 4990 levels.
The supports for the sensex is at 16050 levels and resistance at 16650 levels.
Yesterday’s calls sent via sms and messenger
Advance Nifty – booked profits at 4765 , short from 4911
Nifty 4900 pe – booked profits at 49 , long from 22
Itc 190 pa – booked profits at 3.85 , long from 1.35
Arvind Mills – buy at cmp 94.30 sl 93 targets 97 , went 98.20
Rajesh Exports – buy at cmp 111 sl 109 targets 115 ,went 119.50
Mcloed Russel – sell at cmp 245 sl 247.50 targets 238 , went 235.20
Operator Financial tech – booked full profits at 737 , short from 920
Fii Sesa Goa – booked full profits at 202 , short from 225
Jackpot Hindoil – booked full profits at 103.50 , short from 119
