morning thoughts..

As said and expected the bounce came from exactly the support levels of 5600 and nifty managed to climb to levels of 5700 and surpassed the resistance levels.

Technically the markets have potential to climb up further and inch towards levels of 5775 levels in the coming sessions, however it will be done with volatility and mild profit booking.

The opportunity lies in individual stocks where movement is fast and strong and returns in terms of percentage gains will be more.

Few days back we have intimated about mars transit and nifty targets of 5600 which have well being achieved in just 1 week.

Coming to the commodity markets bullions – gold and silver will continue to face selling pressure and our likely to seek lower levels in the coming sessions.

Same looks viable for base metals and energy , however there can be exception with zinc and natural gas

The supports for the nifty is at 5700 levels and resistance at 5775 levels.

The supports for the sensex is at 18500 levels and resistance at 19200 levels.

Yesterday’s calls sent via sms and messenger

Gold Mcx – sell at cmp 29550 sl 29600 targets 29425 - holding

Silver Mcx – sell at cmp 51390 sl 51500 targets 50700 - holding

Crude Mcx- sell at cmp 5300 sl 5320 targets 5250 - holding

Btst Raymonds – buy at cmp 285 sl 282 targets 295 - holding

Advance Nifty – booked profits at 5765 – long from 5625

Dlf 250 ca – buy at cmp 10 sl 8 targets 16 - holding

Delta corp – sell at cmp 48 sl 49 targets 46 – hit sl

Dena bank – sell at cmp 94 sl 95 targets 92 – hit sl

Idfc – buy at cmp 144 sl 143 targets 147 – went 146.60

Sun pharma – buy at cmp 850 sl 845 targets 870 – went 868

Jackpot Abg shipyard – booked profits at 359 – long from 327