I had writen on 06 th july a possible route map of nifty from those levels.
http://jerrytechnicals.blogspot.com/2009/07/nifty-outlook-06-july-2009.html
A reader who bought niftybees based on the analysis provided on this site has writen in to ask if the analysis is still valid and whether she can wait for the afore mentioned target.
I am answering her query here for the benefit of other readers who must have done that trade.
The view still holds. However nothing is ever sure in market. Sell 50% of your niftbees and hold the rest with stop loss of 4400 on closing basis. The fibonacci confluence support zone has moved itself to 4400.
Good trade by all traders who took the risk based on my analysis.
Bull Level
Buy nifty future at 4805 with stoploss at 4780 for targets 4835, 4855, 4875
Bear Level
Breaking 4780, short sell nifty future on retracment to 4805 with 4825 as stoploss for targets 4755, 4740, 4720.
Weapon for Bulls - INFOSYS
For monday trading buy infosys at 2259 with stoploss at 2245 for targets 2280, 2295, 2325.
Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.
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