Weekly outlook June 15 – June 19

NIFTY

Nifty has made a long legged doji on weekly charts.

For next week nifty resitances are placed at 4670 and 4750 while supports are placed at 4475 and 4365.

Sultan of Stocks – Reliance Industries

Reliance has closed in a high resitance zone this week.

Unable to trade above weekly resistance level of 2395, bears will attack RIL and take it down to 2155 and 2090

King of Banks – SBI

If SBI .is unable to trade above 1695 next week, expect SBI to drift down to support level of 1540 and 1500

Oil Barron – ONGC

Weekly resistance for ONGC are placed at 1150 and 1200 while weekly supports are placed at 1060 and 1025.

Weekly Market Oulook

NIFTY

This week nifty will run into huge resistances at 4645, 4695, 4790. Unable to trade above first level will take nifty down to support levels of 4535 and 4485, 4400.

RELIANCE – SULTAN OF STOCKS

Reliance looks all set to fall to support levels of 2175 and 2110 this week. Reliance will have huge resistances at 2270, 2310.

SBIN-KING OF BANKS

SBIN has huge resitances at 1830 and 1875 for this week. Inability to trade above first resitance level will drag SBI down to 1740 and 1700.

ONGC-OIL BARRON

If ONGC is unable to trade above this weeks high of 1215, ONGC will come under bear pressure. Supports exist at 1155 and 1115.

Weekend analysis of nifty and index biggies and a fibonacci confluence

Last week had plenty for both bulls and bears.

All the index biggies traded as per levels mentioned in Jerry’s weekly analysis of index biggies .

In the end bulls were clear winners with a 400 point rally in nifty from the low of 4090. 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.

NIFTY

For the week ahead, nifty support levels are placed at 4350 and 4250 levels while resitances are placed at 4570 and 4650 repectively.

RELIANCE

Sultan of stocks closed near a high resistance zone with reistances coming at 2340 and 2390. Weekly supports for reliance exists at 2230 and 2180 levels.

SBIN

King of banks had a most volatile week with a journey from weekly close to support level and back to resistance levels. In the week ahead, SBI will have huge resistance at 1900 and 1970 levels while support levels are placed at 1780 and 1700 levels.

ONGC

In the week ahead, ONGC could be the deal breaker. ONGC will run into huge resistance at 1250, 1320 levels. Inability to sustain above first resitance level will drag the stock down to 1100 and 900 levels.

Nifty outlook 25-May-2009

Reflecting about a playful friday

SunTV did not really shine as expected. Readers of the blog would have made a small loss in the trade. However readers who shorted nifty future as per levels given would have printed out the almighty dollar as nifty crashed from short level to almost 3rd target.


For monday trading

Bull Level

Buy nifty future at retracement level of 4210 with stoploss at 4192 for targets 4275, 4300, 4331.

Bear Level

1) In the scenario of nifty future breaking 4192, short nifty future at retracment to 4210 with 4225 as stoploss for targets 4165, 4140, 4125.

2) Short nifty future when it trades at 3rd target of long level of 4331. Instead of shorting in future buy 4000 june month put at around 70 rs with stoploss at 56 rs for targets 95, 112, 130.

If this trade becomes deep in the money, one can carry the position for targets 180 ,195.

Impending Breakout – ADLABS




Adlabs is a at a critical level. On monday crossing 345, buy adlabs on retracement to 334 with stoploss at 322 for targets 367, 385. It is essential that adlabs crosses 345 in futures before this trade is taken.

Note:

I have tried to analyse RIL, SBI and ONGC on a weekly basis here

Weekend Analysis of Index biggies

Sultan of Stocks – RIL

RIL found it impossible to penetrate and trade above 61.8 expansion level last week. This week, RIL will run into huge resitances at 2315 and 2375. Unable to trade above the first resistance level will be first sign of weakness in RIL and it can correct to weekly support levels at 2000 and 1950.

King of Banks – SBI

SBI was the strongest index stock last week retaining most of the gains it made on monday. For this week resistances for SBI are placed at 1875 and 1950 while supports are placed at 1590 and 1520.

Oil Barron – ONGC

ONGC was quite the star last week. In doing so, ONGC has moved to 61.8 retracement of the fall from its all time high and therefore at huge resitance levels. This week ONGC will have huge resitances at 1130 and 1180 levels. If ONGC is unable to cross first resitance level, it can easily correct to support levels of 980 and 920.

Nifty Outlook 12-May-2009

Flashback

Readers of blog would have had a field day as nifty opened at short level and fell all the way to extended 4th target (normally i give only 3 targets, but as it turned out today was special).

Readers would have made good money in ONGC as it fell to the second target of short.

For tuesday trading

Bear Level

Short nifty at retracement level of 3590 with stoploss at 3630 for targets 3531, 3500, 3485

Bull Level

Buy nifty at 3rd target of 3485 with stoploss at 3452 for targets 3531, 3560, 3590

HDFC Bank at strong support level

For tuesday trading buy hdfc bank at 1133 with stoploss at 1114 for targets 1165, 1193

Nifty Outlook 11-May-2009

Flashback

Nifty made a sojourn from first target of long to second target short of short, taking intraday traders on a jaunt.

Readers of the blog would have printed out the almighty dollar in relcapital See what i wrote about capital here

ACC was decimated on the break of 638 as writen on 5th of may

For Monday trading

Bear Level

Short nifty future at retracement level of 3660 with stoploss at 3690 for targets 3610, 3587, 3550, 3520

Bull Level

In the scenario of nifty future crossing 3690 buy nifty future at retracement level of 3665 with 3650 as stoploss for targets 3695, 3715, 3740.

Trouble series continues – ONGC

ONGC is getting resited at a key resitance level.

For monday, short ONGC at retracement level of 910 with stoploss at 925 for targets 890, 875, 865

Unusual trading ranges in Hindustan Zinc

Hindustan Zinc is creating wide trading ranges. In the case of HINDZINC crossing 634 in futures, buy on retracement to 625 with stoploss at 595 for target 710. This is a positional trade and should be done in spot instead of future.