The rally on Friday was most irritating. If you are surprised then it means that you do not remember the fact that I was short going into Fridays session. I retain my short position. I will cut it and go long only above 5943 as stated in Fridays note too.

One of the key factors against a long position is the fact that Euro continues to trade lower. I will change my view on the Euro short positions only if it starts trading above 1.3440. The bond yields in the US continue to rise. My view that only below 3.12 does on see a change in trend, holds for now.

And now the time has come for me to make good on my promise. A few stock ideas I had said and a few stocks ideas it is.
1] BOI: Buy above 446 with a stop below yesterdays low. Tgt? We will see. Let it trigger the buy first and then second hold above the stop loss levels. Most often one really does not have to worry about a target to book profits. It hits the stoploss within a few days!

2] CBK: Buy above 678. Stoploss below yesterdays low. For target read the above para. You do not like buys and want some sells? Then here goes.

3] Bharti: Sell below 325 with a stop above Fridays high. No point giving too many more. This is good enough.

The real question is what does one do if Nifty does not trade higher and does NOT take out my BUY trigger of 5943? In that case I will do one of these things. If it trades above 5890 in the morning and then trades below 5970, I will take an intraday short trade on the Nifty with the morning highs as the stop. If it does not even go to 5890 and starts trading lower than 5832 then I will again sell some intraday short on the Nifty with the morning high as the stop. We are off to the races already. The trading has started. Let us hope we make some money today!