14k holds up … Can we see some short covering…

Sensex Technical View :

As one can see from the chart Sensex has finally touched the momentum line at 14k and staged a small intra-day recovery.
The view earlier was to generate cash at 15.5k to a large extent. One can now look to deploy some amount of cash at 14.1k-14.3k with a strict stoploss of 13800 on closing basis to take a bounce trade to 14900-15100.So its a trading bet with investment portfolio. As Sensex if breaks 13800 it may well head to 12700 also.
Volatility will remain unusually high with expiry and other external events in coming days.
Stocks to watchout for :
Reliance inds was mentioned about 1900 being 38% retracement and the stock could stage a pullback from 1850-1900 band. It did see a recovery to 2000 +.The upmove would face stiff resistance at 2070/2125 range.
NTPC keep a trailing stop of 188 and hold for 202/212. HDFC Bank dint give much of a trading chance with gap down.

The stock has seen huge volumes in the last 1 month and is showing lot of strength. The stock if crosses 112-114 could even head up to 130.Keep a stop of 106 on triggering of trade.There is a lot of market buzz on the stock so will be volatile
Tata Motors buy above 355 stop of 347 tgt 364/375 in the day.
Gateway Distriparks ( earlier reco at 67 ) has been consolidating at a higher range of 95-110 and seems to be setting up for a breakout. Buy around 104 stop of 97 tgt 112/125 in short term.

JULY 4-5

Mail to noorrock2002@gmail.com or call 09819225396 Nooresh to confirm your seat/queries / details.
Best Regards,

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