Nifty outlook 29-June-2009

Bull Level

Buy nifty future around retracement level of 4305 with stoploss at 4280 for targets 4345, 4380, 4400.

Bear Level

Short nifty future around 4400 with stoploss at 4425 for targets 4360, 4330, 4300.

There are no stock recommendations for tomorrow.

Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry’s view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.

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Weekly Outlook 29th June – 03 July 2009

Nifty

Nifty has closed in a high resistance zone. 4445 is the first resistance of nifty for the coming week and second resistance is placed quite close at 4490.

On the support side, 4290 and 4250 should offer good supports below which nifty can fall to this weeks low of 4155.

Sultance of Stocks – Reliance

As i had writen last week, RIL came under huge bear attack.

For this week resistances for RIL are placed at 2065 and 2100 while strong support exists at 1955 below which RIL can test long term support of 1875.

King of Banks – SBIN

As i had writen last week, SBIN went into a small trading range.

This week SBIN will have resistances at 1785 and 1820 while supports exist and 1710, 1655.

New Kid on the Block – L&T

Due to new float rule, L&T takes the spot of ONGC in my weekly analysis. Hope readers will appreciate this change.

L&T will have huge resistance at 1640 and 1670. Inability to trade above first resistance level will mean L&T getting a bear attack to support levels of

1600, 1570 and 1540

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Nifty Outlook 25-June-2009

Flashback

Readers who went long near the long level would have printed out the almighty dollar as nifty nearly achieved 3rd target on upside.

Bull Level

Buy nifty future around 4250 with stoploss at 4230 for targets 4290, 4320, 4340

Bear Level

Short nifty future around 4345 with stoploss at 4370 for targets 4310, 4280, 4255

As usual no stock recommendations on expiry day

Disclaimer
This is not a recommendation/ solicitation of any order to buy or sell, but Jerry’s view on indian stock market. I assume no responsibility for any opinion or statement made in this blog.

Readers are urged to exercise their own judgment in trading. Readers shall alone be responsible for profit/loss.

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Nifty Outlook 24-June-2009

Flashback

Readers who went long near the long level would have printed out the almighty dollar as nifty achieved all 3 targets given.

Readers could not have made use of DLF as the stock opened way down from the short level.

Bull Level

Buy nifty future at 4203 with stoploss at 4180 for targets 4245, 4290, 4325

Bear Level

Short nifty around 4340 with stoploss at 4365 for targets 4315, 4290, 4245

As we are nearing expiry, there are no stock recommendations for tomorrow.

Disclaimer
This is not a recommendation/ solicitation of any order to buy or sell, but Jerry’s view on indian stock market. I assume no responsibility for any opinion or statement made in this blog.

Readers are urged to exercise their own judgment in trading. Readers shall alone be responsible for profit/loss.

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Nifty Outlook 23-June-2009

Flashback

Readers who went long at long level would have booked a loss as nifty was on a one way track which went only downwards. Readers who went long in reliance capital would have had the oppurtunity to book 20 rs profit as the stock gave up all gains after that

Bull Level

In case of gap down buy nifty future at 4140 with stoploss at 4118 for targets 4190, 4220, 4240

Bear Level

In case of flat or gap up opening, short nifty future at 4290 with stoploss at 4310 for targets 4240, 4190, 4160.

DLF – Feed the Bears

DLF has made a reversal pattern at a key resistance area

Tomorrow short DLF at retracement level 331 with stoploss at 342 for targets 309, 290, 275.

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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 03-June-2009

Flashback

Readers who went long in relcapital at 952 would have had the oppurtunity to book longs at 970 as it pulled back really strongly from long level. Nifty stoploss for long was triggered though.
SBI was the star stock today as it bounced back violently from first support level mentioned in weekend analyis . Coincidentally, today’s nifty high of 4578 was close to the first resitance level 4570 mentioned in the weekly analysis.

For wednesday trading

Bull Level

In the scenario of nifty future crossing 4560, buy at retracement level of 4528 with stoploss at 4501 for targets 4590, 4615, 4640.

Bear Level

In the scenario of nifty future breaking 4501, short at retracement level of 4528 with stoploss at 4560 for targets 4485, 4450,4420.

Looking good : King of Banks

SBI looks extremely good on charts for tomorrow.

For tomorrow trading buy sbi at retracement level of 1850 with stoploss at 1828 for targets 1885, 1920, 1945,1975

Nifty Outlook 02-June-2009

Flashback

We had to wait from first hour of trade when APIL retraced to 466 to last hour of trade when it hit the first target of 488. At a profit of 25000 rupees+ per lot, this was the sweetest wait ever.

Nifty however triggered the stoploss levels before nosediving to targets.

Bull Level

Buy nifty future at retracement level of 4514 with stoploss at 4485 for targets 4560, 4590, 4610.

Bear Level

Short nifty future at 3rd target of 4610 with stoploss at 4630 for targets 4580, 4540, 4500.

Double Whammy – Reliance Capital

Tomorrow could be a very interesting day to trade reliance capital with oppurtunity to trade on both sides. From the chart, we can see that reliance capital will do well tomorrow. However we can also see that it will run into some huge resitances on the way up.

For tuesday trading

Buy reliance capital on retracement to 952 with stoploss at 942 for targets 980, 1005, 1025.

Short reliance capital at 1025 with stoploss at 1045 for targets 1005, 975, 955.

Bear Level

Nifty outlook 29-May-2009

Flashback

Nifty opened near yesterday’s close and zoomed to short level, fell duly to first target and then moved up and stayed in a narrow range. As a result, nifty has moved into a high resistance area.

Star of the day was HDIL who from the short level fell to almost to target 1.

A single lot of HDIL should have given readers well over 50,000 rupees.

For Friday trading

Bear Level

Short nifty future around 4370 with stoploss at 4388 for targets 4320, 4290, 4260

Bull Level

Nifty future crossing 4388 buy on retracment to 4375 with 4355 as stoploss for targets 4400, 4420, 4450.

Trouble Series : Tata motors

Tata motors is unable to pierce through huge resistance at 349.

For thursday trading

Short tata motors around 343 with stoploss at 350 for targets 322, 305, 290.

Note that because the future is in a huge discount, i have given spot levels. Futures traders should take confluence from spot levels to do this trade.