Nifty outlook 25-May-2009

Reflecting about a playful friday

SunTV did not really shine as expected. Readers of the blog would have made a small loss in the trade. However readers who shorted nifty future as per levels given would have printed out the almighty dollar as nifty crashed from short level to almost 3rd target.


For monday trading

Bull Level

Buy nifty future at retracement level of 4210 with stoploss at 4192 for targets 4275, 4300, 4331.

Bear Level

1) In the scenario of nifty future breaking 4192, short nifty future at retracment to 4210 with 4225 as stoploss for targets 4165, 4140, 4125.

2) Short nifty future when it trades at 3rd target of long level of 4331. Instead of shorting in future buy 4000 june month put at around 70 rs with stoploss at 56 rs for targets 95, 112, 130.

If this trade becomes deep in the money, one can carry the position for targets 180 ,195.

Impending Breakout – ADLABS




Adlabs is a at a critical level. On monday crossing 345, buy adlabs on retracement to 334 with stoploss at 322 for targets 367, 385. It is essential that adlabs crosses 345 in futures before this trade is taken.

Note:

I have tried to analyse RIL, SBI and ONGC on a weekly basis here

Nifty Outlook 22-May-2009

Flashback:


Nify triggered short level and went to target1 while divis was up one way. Readers who went long near long level would have made good profit.





Bear Level


Short nifty futre at retracement level of 4255 with stoploss at 4285 for targets 4207, 4180, 4155.





Bull Level


Buy nifty future crossing 4290 on retracement level at 4275 with stoploss for 4250 for targets


4325, 4355, 4375.





Looking Good : SUNTV

SUNTV has taken support at lower channel and looks good to move to higher levels.
For friday trading, buy suntv at around 265 with 256 as stoploss for targets 280, 304, 314.
As the stock may be influenced by today’s political scene, readers should do the trade in spot in low quantities to minimize risk.