Market Outlook 01-APR-2009

Today was a traders day out. There was so much volatility created by reliance refusing to move up and sbi and banks pushing the index up. As a result we have an inside day formation on nifty.





For wednesday trading


Bear Level


Short nifty at 3040 with SL of 3067 for targets 2981, 2955, 2930


Below 2992, expect nifty future be attacked by bears.


Bull Level


Buy Nifty at 2909 with SL at 2883 for targets 2945, 2972, 3010.


Above 3075 nifty can upset many a bearish plans.


In such a scenario buy at retracement level 3055 with SL 3037 for tgt 3125.


Taking a contrarian View


HDFCBANK is near resistance levels.





On Wednesday, short around 975 level with SL at 995 for target of 873.


Have a profitable trading day !!!!!!!

Market Outlook 31/03/2009

Bears are back !!!! It was a comeback of sorts at NSE. Despite reliance holding up, bears thrashed banks and as a result nifty closed down by 4.35%.


Bull Level

Scenario 1: Dow tanks tonight and market opens with a huge gap down

Buy nifty future at 2912 with stoploss at 2893 for target of 2990.
This strategy will become a high yielding one, if when nf is near 2912, reliance is trading around 1485 which is the bearish target of reliance.
If 2893 is hit, NF will fall to 2850.

Scenario 2: No gaps (well, i havent seen that a lot in the near past)
If nifty future crosses 3050, buy at retracement level 3029 with SL at 3008 for target 3095.

Bear Level
Short nifty future at 3021 with SL at 3049 for target 2945, 2912.

Eye of the tiger
I was going through titan charts, and it makes really interesting reading for intraday punters.









On Tuesday if titan does not break 740, it would be wise To long with initial stoploss of 740.Once market stabilizes, SL can be moved to opening lows.All this for a target of 840.
HaVe a GREAT Trading Day !!!!!

Market Outlook 30/03/2009

Bulls have been on a rampage for 12 continous days. Rampage, c'est comme la mode !!!. Now that mutual funds have had their navs pumped, will we see a much wanted correction? As a die hard follower of fibonacci, i strongly believe that all trends can be deciphered from price action.

Nifty War Zone

Bull Level
On Monday nifty future has strong resistance at 3148 level. If it crosses, 3160, buy at retracement level 3140 with stoploss 3119 for target 3225.
Bear Level
On the downside, bears should be active below 3075. In such a case, sell at retracement level 3090 with 3113 as stoploss for target 3015.

Tracking the Sultan of Stocks


Reliance has made a reversal pattern on eod charts.




On Monday, if reliance breaks 1546, it will come under the grip of hungry bears. In such a scenario,short at retracement level 1552 with stoploss at 1586 for target 1484. If it crosses 1586, it will nullify the bearish pattern in reliance and it should go to 1631 in such a scenario. Stop Loss for long would be 1544.

For the eyes of Bulls Only.
Two much beaten down stocks have been capturing the nations long money. They have made avery significant bullish patterns on EOD charts.
1) RCOM - Anil Mania.





On monday RCOM can be bought at 173 with SL at 165 for targets of 197 and 207.
However RCOM has huge resitance around 184 levels. So this trade should be done in cash or options. This is a positional trade, expected to last 2 to 3 days.

2) DLF - Charts telling different story.


On friday DLF could not pierce through the resistance area at 185. On monday, it could very well do that. For monday, dlf can be bought at 175 with a stoploss of 168 for targets 190, 199.
Breaking 168 should result in dlf getting a bear attack which should take it down to 146.

Have a profitable trading day !!!!!!!!