Reliance Industries 20 MAY 2013

RELIANCE INDUSTRIES - A FIBONACCI PERSPECTIVE

As per Fibonacci study, RELIANCE has closed above critical resistance level and is about the buckle the downtrend which started last week of January 2013.

Chart

Trading Strategy

I would accumulate RELIANCE in the range 830 - 820 with stop loss of 815 on closing basis for targets 880 - 900 in short term positional trade.



Disclaimer:

This is not to be interpreted as a trading recommendation. This is a personal trade shared for educational purpose only. Risk of all trades remains with reader of this blog.

Indian Stock Market Daily Outlook

Nifty future outlook 23-05-2011




Trading idea for Monday:


Buy nifty future around 5465 with stop loss of 5445 for targets 5500, 5520.


Reversal targets: 5405, 5380, 5350.


Trading above 5525 with momentum will take nifty to 5550, 5580 and 5603.




NEXT


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 Weekly outlook

(nifty future)

The above chart makes for interesting study. One can see that all short term indicators have moved into buy mode by

breaking out from the trendline.

However if looks at the price, it is clear from the chart that we are near big overhead resistance.

So how do we play this seemingly twisted story to played out next week ?

Here is my take.

5115 (again :-)) and 5180 will be the resistance zones for nifty future in the week ahead.

Initial suppports from nifty lie at 4980 - 4950 area.

Break below 4950 will take nifty to 4920.

Break below 4920 will be disastrous for nifty future and will be an open invite for bears to start all round selling.

In such a scenario nifty future will move to 4785, 4750 and 4720.

And as usual we will be tracking the day to day actions in our daily outlook section.

Please mail your comments to Jerry

NEXT : Best of last week

Nifty Trading Plan 28-May-2010

NIFTY FUTURE TRADING PLAN

As we start a new series tomorrow, nifty futur will meet with stiff resistance at 5030.

Reversal from this level will take nifty to 5000, 4970, 4945.

However if nifty trades above 5060 it will move to 5085 and 5110.

4945 is the confluence support level for nifty future.

Break of 4920 with volumes will bring the bears back and they will knock nifty down to 4895.

NEXT : OPTIONS TO RICHES

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 Weekly outlook

(NIFTY FUTURE)

Last week we had written that 5115 will be crucial level if nifty's fortune were to improve.

The high of last week was 5107 which vaidated our findings from chart.

For the week ahead nifty future will have huge resistance in 5017 - 5040 area.

Reversal from these levels will take nifty future to 4880 and 4840.

Break and trade below 4805 will take nifty future to 4735 and 4690.

Nifty will turn bullish only if it sustains momentum above 5075.

In such a case nifty future will move to 5135, 5190 and 5250.

NEXT: The wall of 5115

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 Weekly outlook

Nifty has made a very interesting close this week just below the critical support level.

I have been harping about 5115 being the confluence level to watch out for.

Unless nifty future trades above 5115 with volumes, future for nifty future appears bleak.

Reversal from 5115 will mean that nifty future's inevitable fall to 5070, 5035 and 4998 in the coming week.

Any upswing for nifty will have huge resistance around 5190 area.

Next resistance will be our favourite 5258 area.

For nifty future to turn positive it really must conquer 5258 with volumes.

Next week could be a great one futures traders.

Keep watching this space for updates and my trading plan.

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 Weekly outlook

NIFTY FUTURE

For the upcoming week nifty future will have significant resistance at 5055 and 5090.

Trading above 5115 (again :-)) with volumes will take nifty future to 5190 and 5258 (again :-)) .

On the downside, support for nifty future is very far at 4920 and 4880.

Trading below 4847 will mean disaster and nifty could easily drop to 4780, 4715, 4650.

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.

Nifty Trading plan for 04-May-2010

Nifty closed above critical support level today.

Tomorrow 2 levels will rule the market - 5199 and 5258 (again :-) )

If nifty crosses 5258 it will retrace to 5232 and zoom to 5290, 5320 and 5340.

If nifty breaks 5199, it will retrace to 5232 and crash to 5158 and 5118.

After many days of indecisiveness, tomorrow could be day when index decides to breakout / break down.

NEXT : RIL RNRL SPAT

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.

RIL, RNRL - A look at charts

RNRL vs RIL

RNRL

It is clear from the other chart RNRL is ready for wild move.

75 is confluence resistance level

Above 75, 82, 85 and 93 are possible targets for RNRL.

Above 93, RNRL will run into huge resistance in historical resistance area of 110 - 120.

On the downside, any negtive news will drag RNRL down to 53 and by extension to 36.

RELIANCE

Any bad news in RIL will take it down to lower end of channel at 960

Further downsides are placed at 905 and 854. 854 is confluence of support and should hold as strong support level.

Any good news in RIL will make bears run for cover as it will easily move to the upper end of channel at 1222.

Next: Indian Stock Market 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.

Indian Stock Market Weekly outlook

For the upcoming week nifty future key supports are placed at 5198 and 5162.

Reversal from support levels will take nifty future to 5255 and 5275.

5275 and 5315 are key resistances for the week. Trading above 5315 with volumes, it will open targets of

5380 and 5395.

On the other hand, breaking and trading below suport level of 5162 with volumes, Index will be thrashed by bears to the extent of 5108.

Traders are also expecting RIL vs RNRL court case to be settled in the coming week.

This will have a definite impact on the way nifty moves in the coming week.

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.