Profit Tracker Week 08 June 2009 – 12 June 2009

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.