Market Outlook 29-Apr-2009

Flashback

Nifty future triggered stoploss of long, and as mentioned in the bear level, crashed to 3345.
RIL came near target1 and thereafter gave up all gains.

For wednesday trading

Bear Level

Short nifty future at retracement level of 3410 with stoploss at 3433 for targets 3370, 3345, 3315.

Bull Level

In the scenario of nifty future crossing 3433, buy at retracement level of 3414 with stoploss at 3396 for targets 3450, 3490, 3540.

As it is expiry day, no recommendation is provided for stocks.

Market Outlook 28-APR-2009

Bull Level

Buy nifty future at retracement level of 3420 with stoploss of 3395 for targets 3495, 3520, 3555

Bear Level

If Nifty future breaks 3395 short at retracement level of 3420 with stoploss at 3445 for targets 3380, 3345, 3315.

Tracking the sultan

Interesting chart setup in reliance

Buy at retracement level of 1768 with stoploss at 1754 for targets 1790, 1802, 1815.

Have a nice trading day.

Market Outlook 27-Apr-2007

Bear Level


Short nifty future at 3538 with stoploss at 3560 for targets 3491, 3465, 3435.

Bull Level

Buy nifty future at retracement level of 3425 with stoploss at 3395 for targets 3491, 3530, 3565

RELINFRA running into huge resitance area


Although, relinfra looks fantastic on charts, in case of gap up, it can be shorted at 761 with stoploss at 772 for target 732 for intraday.


In case of subdued opening relinfra can be bought at 728 with 718 as stoploss for target 761.

Have a great trading day.

Market Outlook 24-APR-2009

FlashBack
What an amazing day. Nifty future without triggering short level went straight down to first target , then moved to second target of long, after retracing to 3372. Days like these should be used to determine how good one is as a day trader. Not only was it a test of trading systems, but that of discipline too.

For friday trading
Bear Level
Short nifty future at 3475 with stoploss at 3514 for targets 3420, 3380, 3345

Bull Level
Buy nifty future at 3345 with stoploss at 3313 for targets 3380, 3420, 3475

DLF trade worth the risk.



After making a negative pattern on 16th , dlf has given a retracement. This pullback may be used to make a good risk to reward entry. Tomorrow short dlf at 254 with stoploss at 261 for targets 245, 237, 227. Above 261, trade can be converted to long with the objective to nullify the loss in short.

Have a great trading day

Market Outlook 23-APR-2009

FlashBack

The head and shoulders is starting to take its toll. Nifty opened near target1 of long and fell to target 1 of short in a straight line.
Tomorrow is Sultan of Stocks result day.

For Thursday trading

Bear Level

Sell nifty at retracement level of 3372 with stoploss at 3397 for targets 3315, 3285, 3215

Bull Level

In the scenario of nifty future crossing 3397, buy at retracement level of 3375 with stoploss at 3340 for targets 3415, 3445, 3481

Stock Watch

Century Textiles has made a very negative pattern on charts




Sell century at 218 with stoploss at 228 for targets 202, 192, 182.

Have a great trading day

Market Outlook 22-APR-2009

FlashBack


Volatility was the name of the game today. Sultan of stocks made a small rally which made the nifty close in green.


For Wednesday trading


Bull Level


Buy nifty future at retracement level of 3345 with stoploss at 3318 for targets 3395, 3425, 3445, 3475.





Bear Level


If nifty future breaks 3318 sell at retracement level of 3345 with stop loss at 3375 for targets 3295, 3265, 3240




Stock approach


For wednesday sell relinfra at retracement level of 679 with 693 as stoploss for targets 661, 645, 637.


Above 693, relinfra can be bought for targets 710, 725, 732.





Have a great trading day

Market OutLook 21-APR-2009

FlashBack

Again quite a volatile day with nifty hitting buy level at open itself and proceeding smoothly to first target. After a religious testing of 200 dma nifty, gave up all gains and finally closed at 3370.

ACC came to short level and crashed to 604 with promise of lots more.

For tuesday trading

Bear Level

Short nifty future at retracement level of 3400 with 3420 as stoploss for targets 3337, 3265, 3235.

Bull Level

Buy nifty future at 3200 with 3172 as stoploss for targets 3275, 3330, 3365.

Note for positional traders in nifty

Nifty made a beautiful head and shoulders pattern in 30 minute chart and broke the neckline. The target as per this pattern is (3514 - 3350) = 3186. Refer to the chart below

Have a great trading day.

Market OutLook 20-APR-2008

FlashBack

Nifty remained highly volatile for the most part of friday until it broke the crucial level 3437 and tumbled like bowling pins.

For monday trading

Bear Level

Short nifty at retracement level of 3482 with stoploss of 3514 for targets 3410, 3355,  3255.

Bull Level

1) In case of flat opening, buy nifty future crossing 3390 with stoploss of 3354 for targets 3435, 3460, 3485.

2) Buy nifty future at 3250 with stoploss at 3210 for targets 3310,  3355

ACC short

 For monday, short acc at 627 with stoploss at 636 for targets 606, 588, 571.

Have  a great trading day $$$

Market Outlook 17-APR-2009

FlashBack

Niffty opened at short level in singapore (SGX Nifty) and fell all the way down. Thatz pretty much what was good with levels posted yesterday. Airtel triggered long level gave 16 rs profit and then took out stop loss.

For Friday trading

Bear Level

Short nifty future at retracement level of 3437 with Stoploss of 3460 for targets 3365, 3315, 3270.

Bull Level

Buy nifty future at 3261 with stoploss of 3240 for targets 3293, 3325, 3360

Heavy shorting

If market opens in a positive note , short bhel at 1641 with stoploss of 1665 for targets 1597, 1571.

It appears as though bhel has run into some temporary resistance from the following chart

Have a great trading day $$$

Market OutLook 16-APR-2009

FlashBack

Bulls were in a murderous mood.  From near 3rd target level of short, nifty future went all the way to third target of long level.  Sultan of Stocks led the rally along with ADAG stocks.

As a result nifty has moved into a high resistance zone. 

For thursday trading

Bear Level

Short nifty future at 3549 with stoploss 3579 for targets 3481, 3460, 3430.

Bull Level

Buy nifty future at retracement level of 3430 with stoploss at 3400 for targets 3481, 3515, 3549

Ringa Ringa Ringa

Bharti Airtel looks very interesting on charts

For thursday, buy bharti if it crosses 691 with 675 as stoploss for targets 745, 765.

Follow up on ACC short position

             Although ACC did give a chance to cover the short near monday lows (low made 582), it triggered revised SL of 605. The trade is closed.

Market OutLook 15-Apr-2009

FlashBack

Intraday traders ruled on monday. Nifty triggered short level in the morning itself and reversed 12 points shy of target. Thereafter it consolidated in a range of 16 points for more than 2 hours and took off on a jet plane.

ACC triggered the short level and reacted downwards.

For wednesday trading

Bear Level:

Short nifty future at 3411 with stoploss of 3433 for targets 3385, 3355, 3315

Bull Level:

If nifty future crosses 3433, buy at retracement level of 3420 with stoploss at 3409 for targets 3449, 3485, 3510.

Bad news for bears : Sultan of Stocks

For wednesday trading, buy ril at retracement level of 1763 with stoploss at 1741 for targets 1810, 1825, 1845.

Follow up on positional short ACC.
ACC made a bearish pattern on monday. As a result the stoploss of acc short can be moved from 623 t0 605. Entry should have made at 600 as per ACC

Market OutLook 13-Apr-2009

FlashBack
On thursday, market opened near short level, fell all the way down to long level, and then moved all the way up surpassing 2nd target ( Jerry's bull level and bear level ) . Such a day is godsent for intraday traders who trade with blessings of God of stock markets (Fibonacci). Readers of the blog who took this trade (Relinfra trading ideas posted by Jerry) would be very rich now as relinfra achieved the target of 668.

For Monday trading

Bear Level

1) In case of gap up open, short nifty future at 3501 with stoploss at 3535 for targets 3455, 3420, 3390
2) Otherwise Short nifty future at 3365 with stoploss of 3393 for targets 3325, 3295, 3245

Bull Level

Buy nifty future at 3410 with stoploss of 3383.5 for targets 3455, 3480, 3501.

India's No.1 Cement Company may be a No.1 shorting oppurtunity







In the above chart, it appears as though acc is struggling to surpass the resistance line.
Hence it can be shorted for positional trade on monday near 600 with stoploss at 623 for target 528.

Have a great trading day.

Market OutLook 09-APR-2009

FlashBack

Nifty future opened with a huge gap down and made an unbelivable journey from my third target of short level to 2nd target of long level. Readers of the blog would have made handsome money in relinfra as it came to buy level of 581 and zoomed from there.

For thursday trading

Bull Level

Buy nifty future at retracement level of 3307 with stoploss of 3271 for targets 3367, 3393, 3415

Bear Level

Short nifty future at 3rd target level of 3415 with stoploss 3436 for targets 3367, 3325, 3307

ADAG magic is working

Below is the chart of relinfra where ADAG magic is starting to work.

For thurday trading buy relinfra at retracement level of 607 with stoploss 591 for target 637, 668

Have a great trading day !!!!

Market OutLook 08-APR-2009

FlashBack

Readers of the blog would have made nice money today in nifty, if one had shorted as per
http://jerrytechnicals.blogspot.com/2009/04/market-outlook-06-apr-2009.html
Nifty found support at the first target, then kept all intraday traders in tenderhooks with false breakouts and breakdowns.


A note for positional traders

Positional traders should have an eye on 3194 from here on. If wednesday, if it closes below this level, chances of uptrend getting halted (at least temporarily) are very high. What is so special about 3194 ? It is the midpoint of nifty future range on thursday. Closing below this, nifty future will make a bearish evening doji star candle stick pattern.


For Wednesday trading

Bear Level
Short nifty future at 3271 with stoploss of 3292 for targets 3215, 3185, 3155
Bull Level
Buy nifty future at 3293 with stoploss of 3272 for targets 3320, 3357, 3380

Paradoxical Charts


1) Only for bulls


Relinfra









As a positional trade, relinfra can be bought at 581 with stoploss of 557 with target 668.



2) Only for bears







SBI opened near first target, and hence did not have the firepower to blast through the high resitance area. For Wednesday trading, short sbi at 1150 with stoploss of 1177 for targets 1075, 1055.

Have a great trading day !!!!!

Market OutLook 06-APR-2009

FlashBack

Acceleration = d (bears)/d(time).

Bears were totally annihilated by the runaway gap on nifty and stellar performance by Sultan of Stocks Reliance. In doing so nifty might have defined a new range for itself. Have a look at the chart below.

For Monday Trading

Bull Level

Buy Nifty Future at retracement level of 3199 with stoploss at 3169 for targets 3252 and 3300.

Bear Level

Short Nifty future at second target of 3300 with stoploss 3323 for targets 3252 and 3210.

King of banks on close watch

SBI charts look very promising. From the charts it looks like SBI might take over the leadership from Sultan for the rest of this upmove.

For monday trading

buy sbi at retracement level of 1127 with stoploss at 1100 for targets 1190, 1245.


Blackout in the offing for PowerGrid.

The chart is pretty self explanatory. Stoploss for short would 101 on closing basis. Targets would be 85 and 69.

Have a great trading day.

Market Outlook 02-APR-2009

FLashBack

The day started off with a 60 point downmove.
Bulls took over the control from my second target of 2955 and once it crossed intraday stoploss of 3001 there was no looking back. At the end of day, it seems, bears have been vanquished. Well atleast for now. It is not often that the low of inside day is cut and then high of the inside day is crossed. This indicates a definite momentum shift to the bull side.

Levels for Thursday

Bull Level

1) Buy Nifty future at retracement level of 3010 with stoploss 2972 for target 3050, 3095, 3125, 3195.

2) In case market opens with an upside gap, buy nifty future on crossing of 3110 with stoploss 3087 for target 3195.

Bear Level

1) After crossing 3110, if nifty future hits SL of 3087 short at retracement level 3100 with SL at opening highs for target 3010.

2) If nifty future breaks 2972, short at retracement level of 2998 with SL at 3015 for target 2955, 2915.

Sultan of stocks is back

Reliance has negated the bearish pattern described in http://jerrytechnicals.blogspot.com/2009/03/market-outlook-30032009.html

RIL made a low of 1502. Readers of the blog would have made a handsome profit of 50 rs although it failed to achieve the bearish target of 1484.

For thursday trading,

Buy RIL on retracement to 1555 with stoploss of 1520 for targets 1631, 1675.

Have a great trading day !!!!!