Weekly Market Oulook

NIFTY

This week nifty will run into huge resistances at 4645, 4695, 4790. Unable to trade above first level will take nifty down to support levels of 4535 and 4485, 4400.

RELIANCE – SULTAN OF STOCKS

Reliance looks all set to fall to support levels of 2175 and 2110 this week. Reliance will have huge resistances at 2270, 2310.

SBIN-KING OF BANKS

SBIN has huge resitances at 1830 and 1875 for this week. Inability to trade above first resitance level will drag SBI down to 1740 and 1700.

ONGC-OIL BARRON

If ONGC is unable to trade above this weeks high of 1215, ONGC will come under bear pressure. Supports exist at 1155 and 1115.

Weekend analysis of nifty and index biggies and a fibonacci confluence

Last week had plenty for both bulls and bears.

All the index biggies traded as per levels mentioned in Jerry’s weekly analysis of index biggies .

In the end bulls were clear winners with a 400 point rally in nifty from the low of 4090. The week ahead should be really interesting because there is a fibonacci time cluster confluence happening on june 4 – june 8. As traders, we should expect change of trend in this time period.

NIFTY

For the week ahead, nifty support levels are placed at 4350 and 4250 levels while resitances are placed at 4570 and 4650 repectively.

RELIANCE

Sultan of stocks closed near a high resistance zone with reistances coming at 2340 and 2390. Weekly supports for reliance exists at 2230 and 2180 levels.

SBIN

King of banks had a most volatile week with a journey from weekly close to support level and back to resistance levels. In the week ahead, SBI will have huge resistance at 1900 and 1970 levels while support levels are placed at 1780 and 1700 levels.

ONGC

In the week ahead, ONGC could be the deal breaker. ONGC will run into huge resistance at 1250, 1320 levels. Inability to sustain above first resitance level will drag the stock down to 1100 and 900 levels.

Weekend Analysis of Index biggies

Sultan of Stocks – RIL

RIL found it impossible to penetrate and trade above 61.8 expansion level last week. This week, RIL will run into huge resitances at 2315 and 2375. Unable to trade above the first resistance level will be first sign of weakness in RIL and it can correct to weekly support levels at 2000 and 1950.

King of Banks – SBI

SBI was the strongest index stock last week retaining most of the gains it made on monday. For this week resistances for SBI are placed at 1875 and 1950 while supports are placed at 1590 and 1520.

Oil Barron – ONGC

ONGC was quite the star last week. In doing so, ONGC has moved to 61.8 retracement of the fall from its all time high and therefore at huge resitance levels. This week ONGC will have huge resitances at 1130 and 1180 levels. If ONGC is unable to cross first resitance level, it can easily correct to support levels of 980 and 920.

Market Outlook 28-APR-2009

Bull Level

Buy nifty future at retracement level of 3420 with stoploss of 3395 for targets 3495, 3520, 3555

Bear Level

If Nifty future breaks 3395 short at retracement level of 3420 with stoploss at 3445 for targets 3380, 3345, 3315.

Tracking the sultan

Interesting chart setup in reliance

Buy at retracement level of 1768 with stoploss at 1754 for targets 1790, 1802, 1815.

Have a nice trading day.

Market Outlook 23-APR-2009

FlashBack

The head and shoulders is starting to take its toll. Nifty opened near target1 of long and fell to target 1 of short in a straight line.
Tomorrow is Sultan of Stocks result day.

For Thursday trading

Bear Level

Sell nifty at retracement level of 3372 with stoploss at 3397 for targets 3315, 3285, 3215

Bull Level

In the scenario of nifty future crossing 3397, buy at retracement level of 3375 with stoploss at 3340 for targets 3415, 3445, 3481

Stock Watch

Century Textiles has made a very negative pattern on charts

Sell century at 218 with stoploss at 228 for targets 202, 192, 182.

Have a great trading day

Market Outlook 22-APR-2009

FlashBack

Volatility was the name of the game today. Sultan of stocks made a small rally which made the nifty close in green.

For Wednesday trading

Bull Level

Buy nifty future at retracement level of 3345 with stoploss at 3318 for targets 3395, 3425, 3445, 3475.

Bear Level

If nifty future breaks 3318 sell at retracement level of 3345 with stop loss at 3375 for targets 3295, 3265, 3240

Stock approach

For wednesday sell relinfra at retracement level of 679 with 693 as stoploss for targets 661, 645, 637.

Above 693, relinfra can be bought for targets 710, 725, 732.

Have a great trading day