morning thoughts..
We were expecting huge volatility with two side movement and the markets behaved in exactly the same pattern and provided opportunities on both long and short sides.
Technically the daily moving average still tilts towards a bullish tint and any dips and panics will see immediate buying cushion and the markets will try to retest levels of 5150 on the nifty front which is also the intermediate targets.
However one must keep watch of 5010 on the lower side which is a good immediate support for any downfalls , whereas markets will witness stiff resistance around 5150 levels which will also keep the markets volatile and jittery and might see a reaction at those levels.
So the trading strategy would be to buy on dips to 5050 levels with a stoploss below 5010 levels and exit near 5150 levels , whereas some shorts can be created at higher levels with a stoploss close to 5170 levels.
Thus trading opportunities on both sides will be provided by the markets ,so one needs to be alert and quick in their adaptness to the markets.
Apart from the indices , good movements will be witnessed in stock specific and one must concentrate on them for larger gains.
The supports for the nifty is at 5050 levels and resistance at 5150 levels.
The supports for the sensex is at 16100 levels and resistance at 16850 levels.
www.astroeyes.co.cc
Monday’s calls sent via sms and messenger
Rajesh Exports – buy at cmp 134 sl 132 targets 140 , went 141.25
Arvind Mills – buy at cmp 83 sl 81.50 targets 88 , went 87.80
Pfc – sell at cmp 181 sl 183 targets 175 , went 172.20
Nifty – buy at cmp 5065 sl 5045 targets 5125 , went 5133.25
Tisco 420 ca – buy at cmp 9.50 sl 7 targets 16 - holding
Nifty 5100 ce – buy at cmp 91 sl 80 targets 135 – holding
Operator Call Eih Associated Hotels – booked full profits at 174 , long from 139
Fii Natco Pharma – booked profits at 278.50 , long from 222
Jackpot Brfl – booked profits at 217 , short from 244
Btst Goemetric Software – booked profits at 53 , long from 47
Stbt Cesc – booked profits at 248 , short from 259
