Upward journey continues....

NIFTY continues its upward journey and slowly negating our uneasiness. However, still be on guard and this market can be considered bullish only above 5200 levels. For today, strongest resistances come at 5150 and 5200. At 5150 NIFTY will meet the reverse trendline indicated in the chart. Positional longs can wait to enter above 5200 for a target of 5400. Also, we are going into a long weekend so there maybe profit booking towards close today. Stay on guard!!!


Short termers can look at investing in hindalco, it has a nice setup on charts. 220 if crossed this stock can fly to 270 in no time.

INTRADAY CALLS
ACC - CMP - 681. BUY target 700,712 SL - 668
HDIL - CMP - 776.4 BUY above 782 target 801 SL - 754
TISCO - CMP - 881.7 SELL around 905 target 888, 875 (This stock is in bullish mode, we will be trading against the trend so you will have to wait patiently for the high to occur and then short).
IL&FS INVESTMART - BUY CMP - 191.55 Target - 199.7 SL - 187
RENUKA SUGAR - CMP 137.45 BUY Target - 142, 146

POSITIONAL
INFOSYS - CMP - 1893.1 BUY 1919, 2000
DLF - CMP - 644.9 BUY target 666, 678 SL - 640

FOLLOW UP ON YESTERDAY'S CALLS
ONGC was perfect, we waited for high, shorted and covered at target 1
ORCHID chemicals hit target 2
TCS target given was 1003 and it made 1002 (thats how close it can get :))

Sometimes I give realtime calls on yahoo messenger. You can mail me at rajiv.babu@gmail.com or add travellin_techie on yahoo for more details.