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 08-MAY-2009

Bull Level

Buy nifty future at retracement level of 3654 with stoploss at 3632 for targets 3680, 3710, 3735.

Bear Level

In the scenario of nifty future breaking 3632, sell with stoplos of 3654 for targets 3605, 3585, 3560

Reliance Capital in trouble

For friday trading short reliance capital at 605 with stoploss at 615 for targets 586, 571, 565.