morning thoughts..

The markets continued to remain subdued with major gains coming on last day of the trading week.

Technically the markets looks exhausted for the time being and a selling pressure could emerge at higher levels which can take nifty to retest levels of 6000.

On the lower side good supports exists around 5950 levels whereas good and stiff resistance will be visible around 6150 levels.

So the trading strategy would be to sell on rallies close to the resistance zone and buy dips around the support levels.

Astrologically Jupiter moves into Gemini soon – the effect of which have been mentioned last week.

Coming to the commodity markets bullions – gold and silver would face selling pressure with some buying in base metals and energy.

The supports for the nifty is at 5950 levels and resistance at 6150 levels.

The supports for the sensex is at 19700 levels and resistance at 20500 levels.

Friday’s calls sent via sms and messenger

Gold Mcx – sell at cmp 26970 sl 27200 targets 26500 - holding

Silver Mcx – sell at cmp 45100 sl 45350 targets 44650 - holding

Crude Mcx – booked profits at 5190 – long from 5037

Copper Mcx – booked profits at 410 – long from 401

Advance Nifty – booked profits at 6080 – long from 5768

Sun pharma 960 pe – booked profits at 28 – long from 15

Lic – sell at cmp 245 sl 247 targets 240 – hit sl

Zee tv – buy at cmp 243 sl 241 targets 250 – went 250.30