Nifty Outlook 26-May-2009

Reflecting on a rangebound monday

Nifty traded in a narrow range of 70 points. Readers who followed the blog would have made 65 out of that 70 points as nifty hit entry of long and zoomed to first target.

Readers who took long position on retracement in adlabs can hold onto the same with stoploss and targets remaining the same.

For tuesday trading

Bull Level

Buy nifty future crossing 4275 on retracment to 4260 with stoploss at 4240 for targets 4295, 4325, 4370.

Bear Level

If stoploss of long position as mentioned above is hit short on retracement to 4255 with 4275 as stoploss for targets 4205, 4180, 4165.

Positional Buy : Reliance Infra (Jewel of ADAG)

Relinfra has made a classical bullish pattern on charts.





For tuesday trading
Buy RELINFRA at retracement to 1118 with stoploss at 1088 for targets 1165, 1195, 1240.

Nifty Outlook 04-MAY-2009

Flashback

Nifty trigerred long level, zoomed to achieve targets. In a week truncated by two holidays we had brilliant movement in nifty. As they say in spain, El dorado for Day traders .

For monday trading

Bull Level

Buy nifty future at 3450 with stoploss at 3410 for targets 3495, 3520, 3545, 3575

Bear Level

1) Short nifty future at 3575 with 3601 as stoploss for targets 3520, 3495, 3450, 3425.

2) In the scenario of nifty future breaking 3410, short nifty at retracement level of 3430 with stoploss at 3455 for targets 3375, 3345, 3315.

Jewel of ADAG may retest resistance

On monday short relinfra at 730 with stoploss at 754 for targets 695, 680, 665.