Sensex has given the first little weak signal by breaking the recent bottoms around 15200 in the day but managed to recover back close to those levels. On the downside important supports are placed around 14750 which is a decider for the short trend till then continue to trade with positive bias on specific stocks.
Till it doesnot cross 15600 i would continue to stick to the cautious line of not being leveraged !!
Stocks to watchout for :
Have been consistently mentioning about booking partial profits and keeping strict stoplosses to conserve gains . This strategy helped us to clean our trading positions little early as well as clearing the trading positions to minimal helps taking a fresh perspective.
So the crack in the day actually makes lot of leverage traders cautious which is a good thing to take in ur stride.
Welspun,Unitech,NTPC gave good gains. Got stopped out in Neyvyeli, Nagar const. Henkel,Emami maintain bullish stance.
Some of the super client trades: Welspun 205 to 220/230. NTPC 205 to 220. Rico Auto 18 to 30, Satyam 80 to 100-110. Unitech 77 to 92 .... the list goes on ..............
Report for the month of July will be posted in 1st week.
Stock has multiple tops around 310. Buy if stays above 310 for a tgt of 330-350 in extreme short term. Stop of 299.
Day trading buy above 232 stop of 225 tgt 245. or buy around 225 stop of 220 tgt 232.
Kingfisher Airlines 55.5 and Tech Mahindra 834 are levels above which quick traders can look for momentum move.
Investment Picks which fundamental people can have a look i am still to look in deeper. Technical Bias as of now.