morning thoughts..

The markets continued to trade with huge volatility amidst the fears of eurozone crisis , the domestic worries made it more jittery and the markets as said and expected gave opportunities to trade on both long and short sides.
Technically the markets still is in a range and will continue to do so with selling pressure on higher levels and some recovery at lower levels.
We have said that 5025 is an important level to watch and a breach of that levels have seen a quick and sharp fall to 4850 levels.
Since the fall has been quick and fast , some recovery from lower levels can be expected but again that will be used to unwind positions and markets can seek lower levels.
However one must be extra vigilant as reactions will be violent and sharp recoveries can be witnessed trapping shorts.
So the trading strategy remains to buy dips and panics and exit at higher levels.
The supports for the nifty is at 4820 levels and resistance at 4990 levels.
The supports for the sensex is at 16010 levels and resistance at 16500 levels.


www.astroeyes.co.cc


Yesterday’s calls sent via sms and messenger

Nifty – sell at cmp 5015 sl 5030 targets 4950 , went 4943.75

Nifty 4900 pe – buy at cmp 78 sl 67 targets 110 , went 134

Tisco 420 ca – booked profits at 15.90 , long from 9.50

Nifty 5100 ce – booked full profits at 133.90 , long from 91

Punj lyod – sell at cmp 49.50 sl 50.50 targets 47 ,went 47.30

Dhanlaxmi Bank – buy at cmp 55 sl 53.50 targets 58 ,went 63.30

Jp associates – buy at cmp 65 sl 63.50 targets 69 , hit sl

Gold Mcx – sell at cmp 29180 sl 29235 targets 29100 – booked profits at 29125

Silver Mcx – buy at cmp 56050 sl 55950 targets 56400 – booked profits at 56227

Crude Mcx – sell at cmp 5128 sl 5135 targets 5110 – booked profits at 5113