Recap
Nifty exactly reversed from our first target and zooomed to resistance level just like
what we wrote yesterday http://jerrytechnicals.blogspot.com/2010/01/indian-stock-market-outlook-13-jan-2010.html
Nifty
Nifty is poised for a smart move.
5205 will be key level for longs from here on. If nifty future does not break 5205 tomorrow, it will move to 5295, 5330 and even 5390.
If nifty future breaks 5205 , expect bears to perform their duty perfectly and nifty future @5120 and 5090.
HDIL
HDIL looks good for a swing trade.
Today's low will hold the fortunes for HDIL in the coming days. HDIL future can be bought on retracement to 367 with today's low of 354
as stop loss for targets 402 and 420.
If the stop loss is hit, the trade may be reversed to make profits.
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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