Earlier we were looking for a price action above 900-910 or a move beyond 840 on downside. There is price action below 840 but it formed a doji for last couple of days. No signs of momentum seen on the downside too.
Axis Bank — Again near to supports but will it break or reverse. Too early to call.
BPCL – 700-710 seems a resistance. Is diesel hike on cards.
DLF – The ping pong continues between 170-190 to 240-260 bands on either side.
Hero Motocorp — The stock looks excellent on the long term basis. Previous tops 2250-2270 remain a resistance which if crossed can give a jump. Only concern stoploss is a bit deep.
Strategy: The last few weeks have been terrible in terms of market behaviour with no clear direction it seems that now its a time to just sit back and wait for clarity on trending trades. Stick to small and quick trades. Buy the dips to book on jumps.