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.