Nifty Outlook 30-June-2009

Flashback

Readers who went short in nifty at opening near the shortlevel would have booked closed to 50 points profits before nifty reversed direction.

Bear Level

Short nifty future around 4425 with stoploss at 4455 for targets 4375, 4340, 4300

Bull Level

In the scenario of nifty future crossing 4455 buy at retracement level of 4425 with stoploss at 4390 for targets 4465, 4485, 4505

Feed the bears -ACC

ACC has made reversal from a high resistance zone.

For tuesday trading, short ACC around 810 with stoploss at 823 for targets 790, 771, 755.

Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry’s view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.

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Nifty outlook 06-may-2009

FlashBack

Readers of the blog would have made good money in both nifty(triggered buy level and zoomed to target 2 of long) as well as acc (which was, well on a one way track).

For Wednesday Trading

Bear Level

Once nifty future breaks 3623, short at retracement level of 3640 with stoploss at 3662 for targets 3595, 3575, 3560, 3530.

Bull Level

Once nifty future crosses 3712, buy at retracement level of 3695 with stoploss of 3681 for targets 3735, 3755, 3765.

King of Banks in trouble

SBIN has made a negative candlestick pattern at a high resistance area.
For wednesday short sbi at 1360 with stoploss at 1389 for targets, 1331, 1311, 1295.

Market Outlook 05-May-2009

FlashBack

Humongous – No other term can be used to described today’s gapup.

Price – Only thing one needs for analysis

On 6th of april i had writen, nifty might have defined a new range. See this .

Now we are almost at the other end of the spectrum in that chart. 3775 is the value of upper horizontal line.

For tuesday trading

Bull Level

Buy nifty future at retracement level of 3635 with 3615 as stoploss for targets 3660, 3675, 3695

Bear Level

Short nifty future at 3705 with stoploss at 3725 for targets 3675, 3655, 3645

ACC in trouble

In case of a gapup, if ACC fails to cross todays high of 682 in futures, it will fall prey to the starving bears.
On break of 638, fall to 582 shall be inevitable and rapid. Entry should be made after assessing the market conditions and with opening highs as stoploss.

Market OutLook 21-APR-2009

FlashBack

Again quite a volatile day with nifty hitting buy level at open itself and proceeding smoothly to first target. After a religious testing of 200 dma nifty, gave up all gains and finally closed at 3370.

ACC came to short level and crashed to 604 with promise of lots more.

For tuesday trading

Bear Level

Short nifty future at retracement level of 3400 with 3420 as stoploss for targets 3337, 3265, 3235.

Bull Level

Buy nifty future at 3200 with 3172 as stoploss for targets 3275, 3330, 3365.

Note for positional traders in nifty

Nifty made a beautiful head and shoulders pattern in 30 minute chart and broke the neckline. The target as per this pattern is (3514 – 3350) = 3186. Refer to the chart below

Have a great trading day.

Market OutLook 13-Apr-2009

FlashBack
On thursday, market opened near short level, fell all the way down to long level, and then moved all the way up surpassing 2nd target ( Jerry’s bull level and bear level ) . Such a day is godsent for intraday traders who trade with blessings of God of stock markets (Fibonacci). Readers of the blog who took this trade (Relinfra trading ideas posted by Jerry) would be very rich now as relinfra achieved the target of 668.

For Monday trading

Bear Level

1) In case of gap up open, short nifty future at 3501 with stoploss at 3535 for targets 3455, 3420, 3390
2) Otherwise Short nifty future at 3365 with stoploss of 3393 for targets 3325, 3295, 3245

Bull Level

Buy nifty future at 3410 with stoploss of 3383.5 for targets 3455, 3480, 3501.

India’s No.1 Cement Company may be a No.1 shorting oppurtunity

In the above chart, it appears as though acc is struggling to surpass the resistance line.
Hence it can be shorted for positional trade on monday near 600 with stoploss at 623 for target 528.

Have a great trading day.