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.

NIFTY OUTLOOK 21-MAY-2009

Flashback

Star of day was tatamotors which followed the levels mentioned yesterday pretty much like a lost traveler following a compass. Even one lot futures contract should have fetched 75,000 Rs intraday for readers of the blog.

Bull Level

Buy nifty future crossing 4350 at retracement level of 4335 with stoploss at 4315 for targets 4380, 4420, 4445

Bear Level

Sell nifty future on break of 4230 at retracement level of 4255 with stoploss of 4287 for targets 4215, 4190, 4170

Looking good – DIVIS LAB

Divis lab has closed above a series of high resistance levels in a powerful upmove today. We can expect some follow up action in divis tomorrow.

1) Buy Divis on retracement level of 1082 with stoploss at 1050 for targets 1145, 1165, 1190

2) Buy Divis crossing 1145 at retracement level of 1125 with stoploss at 1100 for targets 1165, 1190, 1235

Note:
Divis is highly volatile stock with wild moves. Inorder to reduce risk, the trade should be done in spot in low quantities by the risk averse reader.