Nifty Outlook 12-June-2009

Flashback

1) Readers who went long at nifty buy level would have got 75 points on upside.

2) Readers who went long in Renuka at 141 (which tantalizingly came to 139.15 which was near stop-loss level) would have booked 10 points

as the stock zoomed to 153.

3) Readers who went long in HDIL would have had the opportunity to book 15 points as the stock zoomed to 281

4) Readers who went long in Bharti Airtel would have the opportunity to book 40 points.

Bull Level

In the scenario of nifty future crossing 4703 buy at retracement to 4685 with stop-loss at 4655 for targets 4715, 4740, 4760, 4800.

Bear Level

In the scenario of nifty future breaking 4580, short at retracement to 4610 with stop-loss at 4637 for targets 4560, 4540, 4530, 4485.

ABAN – Getting support at support

Today ABAN got support at the critical level of 960 and moved up from there. We can expect the momentum to continue tomorrow.

For friday trading, in the scenario of aban crossing 1092, buy on retracement to 1075 with stop-loss at 1040 for targets 1130, 1170, 1210, 1250

Nifty Outlook 10-June-2009

Flashback

Nifty opened at weekly support level and moved up in a straight line.

Bull Level

Buy nifty future at retracement level of 4468 with stoploss at 4443 for targets 4502, 4560, 4610, 4650.

Bear Level

In case of gap up open, short nifty future at 4620 with stoploss at 4652 for targets 4560, 4530, 4502, 4485

HDIL – One Last Dance

Today HDIL took support at key support level. One can expect some follow up tomorrow.

For tomorrow trading,

buy HDIL on retracement to 265 with stoploss at 254 for targets 287, 302, 320

Nifty Outlook 09-June-2009

Flashback

You saw it here http://jerrytechnicals.blogspot.com/2009/05/weekend-analysis-of-nifty-and-index.html.

“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.”

As expected nifty made a U turn on the fibonacci confluence date of June 8.

Readers of the blog would have made a fortune shorting mcdowell which fell from short level to 3rd target.

Bear Level

Short nifty at retracment level of 4503 with 4540 as stoploss for targets 4460, 4400, 4330, 4300.

Bull Level

Buy nifty around 4300 with stoploss at 4260 for targets 4380, 4420, 4450.

As i expect violent and volatile moves tomorrow, there are no stock recommendations. Let us just enjoy the profit made in mcdowell 🙂

Nifty Outlook 08-June-2009

Bull Level

In the scenario of nifty future crossing 4650 buy at retracement to 4630 with 4610 as stoploss for targets 4675, 4700, 4740.

Bear Level

In the scenario of nifty future breaking 4525, short at retracment level of 4540 with stoploss at 4560 for targets 4505, 4485, 4470.

For the entertainment of Bears

Mcdowell is not able to sustain above 1000. If market turns weak tomorrow, it will come under heavy attack from bears.

For monday trading, short mcdowell at retracment level of 955 with stoploss at 975 for targets 925, 900, 885

For the eyes of bulls only

Bharti Airtel put in a subdued performance last week. This week , if nifty sustains its upmove, expect airtel to outperform.