Thursday, April 16, 2009

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 $$$

No comments:

World Markets (delayed)