RECAP
We had written in weekly outlook that 4828 will be strong support area for nifty this week.
Today's low was spot on at 4822. From there nifty rallied 100 rupees.
Readers who had went long in sunpharma as per http://jerrytechnicals.blogspot.com/2010/01/indian-stock-market-outlook-27-jan-2010.html
enormous amount of profit as the stock rallied 100 rupees from buy level in just 4 days.
Nifty
Nifty future is place critically. Nifty future should not break and trade below 4845 for further upmove.
Breaking and trading below 4845 nifty future will fall to 4820, 4790 and 4775.
On the upside, 4965, 5002, 5025 are the next extension targets.
RELINFRA
RELINFRA looks good for a swing long trade.
RELINFRA can be bought around 1030 with stop below 1000 for targets 1090, 1140, 1175.
Weekly Analysis : http://jerrytechnicals.blogspot.com/2010/01/weekly-outlook-for-indian-stock-market_30.html
Gold MCX view : http://jerrytechnicals.blogspot.com/2010/01/gold-views-mcx-india-1st-feb-jan-2010.html
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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