In case Nifty has a blowout top this month ...

In Jan Nifty did only 100 points in first 21 days and surprisingly nobody complained because their favorite mid-cap/small cap was zooming 10-20-30% in just a matter of days!

Note the big correction months:

1. July 2009

+ 2 months

2. OCT 2009

+ 2 months

3. Jan 2010

+ 2 months

4. April-May 2010

+ 2 months

5. August-Sep 2010?

Assuming we will have a blow off rise like Jan - I have my stock picks in FnO:

1. The infra pack -- GMRINFRA, GVKPIL, IVRCLINFRA? JPASSOCIAT, PUNJLLOYD

2. Underperforming bank - IDBI

3. Cement pick - INDIACEM

4. Random picks - FINANTECH, GTOFFSHORE, ICSA, ONMOBILE, INDIAINFO, MLL --> either they will rise big or fall big!

If Nifty fails to cross 5450-5500 -- these will look like "wishful thinking". Its better to trade long on such "expecting a reversal" kind of stocks only when Nifty crosses 5470-5480

I am making a list of shorts too - the shorts are mostly very risky/very strong uptrending stocks like ASIANPAINT, TITAN, BAJAJ-AUTO types - those which have announced spectacular results - but they already ran up so much that I am expecting sell off when Nifty corrects. The confirmation would be when Nifty breaks down below 5350 - the shorts must be played.