Volatility as expected has increased!! Sensex has a gap around 11635-11430 whereas Nifty spot doesnt show but futures is around 3605-3475.
So as a short term trader if it stays below 3590 on Nifty futures or 11700-11900 band on Sensex then it could give a possible confirmation of a small turn. This band of 11900-12900 which is the higher limits for the current move will be the most difficult to trade in.
Investors should book profits where the gains are more then 50-100% and look to re-enter on dips. Traders as mentioned again and again should reduce volumes ( say u bought 1000 shares now buy 500 ) as volatility may lead to many whipsaws.
Stocks to watchout for :
Lot of whipsaws and move down from highs. Lot of us might be getting caught on the wrong foot in the intra fluctuations and best way to counter remains to reduce volumes which will help conserve the gains.
Stock reviews :
Electro Steel Casting wait for close above 24 or stop 21.5
DLF makes a high of 269.25 and RNRL 64.75. Both could not cross the resistance levels of 270 and 65 shown in the chart.
Harrison Malayalam pulls back from 58.8 in the day still looks good for short term.
Nagarjuna Fert a breakout above 25 did hit a high of 26.2 but closed lower. Still looks good for short term tgt 29 stop of 23.5