Nifty Outlook 26-May-2009

Reflecting on a rangebound monday

Nifty traded in a narrow range of 70 points. Readers who followed the blog would have made 65 out of that 70 points as nifty hit entry of long and zoomed to first target.

Readers who took long position on retracement in adlabs can hold onto the same with stoploss and targets remaining the same.

For tuesday trading

Bull Level

Buy nifty future crossing 4275 on retracment to 4260 with stoploss at 4240 for targets 4295, 4325, 4370.

Bear Level

If stoploss of long position as mentioned above is hit short on retracement to 4255 with 4275 as stoploss for targets 4205, 4180, 4165.

Positional Buy : Reliance Infra (Jewel of ADAG)

Relinfra has made a classical bullish pattern on charts.





For tuesday trading
Buy RELINFRA at retracement to 1118 with stoploss at 1088 for targets 1165, 1195, 1240.

Nifty outlook 25-May-2009

Reflecting about a playful friday

SunTV did not really shine as expected. Readers of the blog would have made a small loss in the trade. However readers who shorted nifty future as per levels given would have printed out the almighty dollar as nifty crashed from short level to almost 3rd target.


For monday trading

Bull Level

Buy nifty future at retracement level of 4210 with stoploss at 4192 for targets 4275, 4300, 4331.

Bear Level

1) In the scenario of nifty future breaking 4192, short nifty future at retracment to 4210 with 4225 as stoploss for targets 4165, 4140, 4125.

2) Short nifty future when it trades at 3rd target of long level of 4331. Instead of shorting in future buy 4000 june month put at around 70 rs with stoploss at 56 rs for targets 95, 112, 130.

If this trade becomes deep in the money, one can carry the position for targets 180 ,195.

Impending Breakout - ADLABS




Adlabs is a at a critical level. On monday crossing 345, buy adlabs on retracement to 334 with stoploss at 322 for targets 367, 385. It is essential that adlabs crosses 345 in futures before this trade is taken.

Note:

I have tried to analyse RIL, SBI and ONGC on a weekly basis here