Indian Stock Market Outlook (Nifty) 30-March-2010

RECAP

Readers who went long in L&T based on our article would have minted the almighty dollar as it roared to 1672 today.

NIFTY

Nifty future will have huge resistance in 5330 to 5347 zone tomorrow.

Reversal from high resistance zone will mean nifty reversing to key support level of 5258 (there we go again :-) ).

Only if nifty is able to trade above 5365 with volumes, will bulls be able to take charge.

In such a scenario nifty will move to fibonacci confluence target of 5398 - 5411.

It promises to be a great day for intra day traders tomorrow with wild moves in the offing.

Let us see how tomorrow pans out.

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.

Indian Stock Market Outlook (Nifty) 26-March-2010

RECAP

As expected nifty traded in a narrow range and moved from our support level to our resistance level.

LT fell to first target of short @ 1601 before trend reversal.

NIFTY

Finally nifty conquered the golden level of 5258.

The same 5258 will act as strong support for nifty tomorrow, while it moves to higher targets of 5295, 5320 and 5340.

Nifty future will be weak only below 5220.

LT

LT made a beautiful move today.

Tomorrow 1630 is support region for LT.

If 1630 is held with volumes, LT will shoot up to 1680 and 1703 tomorrow.

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.

Indian Stock Market Outlook (Nifty) 25-March-2010

Expiry day - Will there be fireworks ??

The inability of nifty to trade above 5258 is a mattern of concern for bulls.

We at JT (JerryTechnicals) expect this expiry to be a flat one.

Tomorrow the market could trade in a very narrow range from 5215 to 5255.

Only if nifty trades below 5210 with volumes, bears can get the upper hande.

Similarly, 5258 will remain the level to cross on the upside for bulls.

LT - Could fall to bear play

L&T is trading at a high resistance zone. Drying volumes indicates it might come under the scanner of bears.

1624 will be the key level to watch for bears. Reversal from 1624 will take LT straight to 1601.

Break and trade below 1595 means LT could crash to 1584 and 1577.

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.