Nifty Outlook 06-OCtober-2009

Flashback

Readers would have made decent amount of money in nifty short and printed out the almighty dollar in renuka.

Bear Level

Short nifty future at 5049 with stop loss at 5068 for targets 5008, 4981, 4960

Bull Level

In the scenario of nifty future crossing 5068, buy on retracement to 5045 with stoploss at 5020 for targets 5095, 5108, 5120.

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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Weekend Read - The curious case of Renuka Sugars.

Diwali is fast approaching. As Indians we all love to splurge on sweets for loved ones.

However take a look at the below futures chart of Renuka. Short term Moving averages have converged on sell side,

Fibonacci confluence zone of 203 has already made a short term top.

From the chart the area to be watched out for is next fibonacci confluence level of 190. Closing below 190, Renuka can fall to 168 and 140 from the above

chart. Amazing that this is happening in diwali time. Hence i would like to call it 'the curious case of renuka sugars'.

Profit Tracker 03-august-2009 till 07-August-2009

Nifty Outlook 07-August-2009

Bear Level

Short nifty future around 4645 with 4670 as stoploss for targets 4590, 4555, 4510, 4490.

Bull Level

In the scenario of nifty future crossing 4690 buy at retracement to 4670 with 4640 as stoploss for targets 4710, 4740, 4775.

Bear Pick - Renuka Sugars

Renuka appears to have made a short term top on charts. For tomorrow trading short renuka at retracement to

184 with stoploss at 191 for targets 173, 168, 165

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 Outlook 11-June-2009

Bull Level

1) Buy nifty future at retracement level of 4605 with stoploss at 4576 for targets 4645, 4680, 4715.

2) In the scenario of nifty future crossing 4741 buy nifty future on retracement to 4701 with 4675 as stoploss for targets 4750, 4775, 4805

Bear Level

1) Short nifty future at resistance level of 4720 with 4741 as stoploss for targets 4690, 4660, 4620

2) Nifty future, breaking 4576 short at retracement level of 4630 with stoploss at 4667 for targets 4560, 4520, 4485.

Looking Good - Renuka

For thursday trading buy renuka on retracement to 141 with stoploss at 139 for targets 146, 150, 155