NIFTY was able to cross the intra day resistance of 5338 but it failed to close near that levels. Thus we remain bearish on NIFTY with a downside target of 5330 - 5350 levels.Besides that we could see lot of shorts coming in compared to the last miute short covering that we saw during the last minutes.
NIFTY is in a buy only if it could close above 5464
Stocks to watch
1.As i said in yesterday's post ..exit bank stocks and move to some inexpensive stocks
Still have a sell call on the major banking stocks like SBI
2. Enter JK lakshmi cement if it gives a good range above 59 with a stop loss of 54
Target 65 - 70 (medium term call)
3. Enter JSW steelat 1100 - 1110 levels for intraday and as a postional call
Target 1180 - 1200 (positional )
Stop loss 1080
