Wednesday, April 15, 2009

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.

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