A look at last week
What a trading week for readers of jerrytechnicals.
Nifty traded the whole week between the balance point and resistance as stated in
market outlook. Those who missed it can access it here
Our weekly trading pick was CORPORATION BANK. CORPBANK rocketed from our levels and moved to target zone . Readers would have made a killing in this scrip
Our next pick of the week was JSWSteel. JSW Steel came to long entry point and zoomed to the targets given in flat 3 hours.
Join me tomorrow where we will have a look at what nifty might to do next week
and explore trading setups for stocks and futures.
With just 3 trades, readers would have made upwards of 50,000 rupees this week. All this for free :-)
As the age old saying goes - 'Trade less but wise'
NEXT: A calm friday
NIFTY FUTURE
Market balance point for nifty future is placed at 5715 for tomorrow.
Supports are placed at 5695 and 5675 respectively.
Break down level is placed at 5660.
Break down targets are 5634, 5608 and 5585.
Resistances are placed at 5745 and 5765 respectively.
Breakout level is 5778.
Breakout targets are 5805, 5835 and 5850.
NEXT: See how readers made a fortune on JSW Steel
Meanwhile Our pick of CORPBANK continues its uptrend.
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
CORPORATION BANK
Last week our weekly pick was GE SHIPPING. Let us check what happened to the stock.
We had asked readers to short the stock between 332 and 339 for target of 311.
Stock made a high of 336 and sharply reversed to 312 .
A whopping profit of 25,000 rupees.
This week we are taking on corporation bank. Last week the stock bounced back from historical support levels.
For this week CORPBANK will have strong resistance at 533 (Stock Balance Point) and 550 levels.
Break out point is 563. Break and trade above 563 will take the stock to 605, 619 and 650.
Targets for reversal from resistance or balance point levels : 485, 446.
NEXT: Nifty Weekly Outlook
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
