Bull Level
In case of flat opening buy nifty on retracement to 4553 with stoploss at 4523 for targets 4590, 4620, 4650
Bear Level
In case of gap up opening short nifty at 4650 with stoploss at 4680 for targets 4610, 4582, 4553.
In the scenario of nifty future breaking 4523 short at retracement to 4540 with stoploss at 4560 for targets 4485, 4435, 4405.
Several stocks have made bullish breakouts today. However, because nifty and sensex are at key resistance levels coupled with fact that we are in a fibonacci trend reversal time period, no stock recommendation is provided for friday.
Friday, June 5, 2009
Nifty Outlook 05-June-2009
Labels:
fibonacci,
fibonacci time zone,
Nifty,
nifty future,
nifty outlook
