Weekly Index Outlook 24th August 2009 till 28th August 2009

Last Week's weekly levels were again spot on

Nifty

Weekly Resistance Levels

R5 4770

R4 4700

R3 4640

R2 4595

R1 4550

Weekly Support Levels

S1 4440

S2 4340

S3 4230

S4 4180

S5 4130

Bank Nifty

Weekly Resistance Levels

R5 7800

R4 7700

R3 7640

R2 7530

R1 7430

Weekly Support Levels

S1 7202

S2 6985

S3 6760

S4 6650

S5 6550

Index and Biggies - Weekly Outlook 13th July - 17th July 2009

Nifty

Supports for nifty are placed at 3850 and 3640 this week.

If nifty is able to test the first support successfully it can test the reistance levels at 4190 and 4250.

I had a writen last week about how 4170 has become critical confluence support. Nifty has closed significantly below that level.

Sultan of stocks - Reliance

Reliance will run into strong resistances at 1840 and 1870 this week. Strong support for RIL exists at 1685.

However failure to hold the first support will result in RIL getting thrashed to 1590 and 1460.

King of Banks - SBI

Weekly reistances for SBIN are placed at 1650 and 1670 this week. 1450 should provide good support for SBI failing which SBI can fall

to 1320 and 1150.

New Kid on the block - LT

LT is in danger of going to sub 1000 level if it is unable to trade above 1500 this week. Small supports do exist at 1280 and 1160.

Nifty Outlook 02-July-2009

Flashback

Readers who went long near the long level of nifty would have printed out the almighty dollar as nifty zooomed to third target of 4360 in a virtual ly straight line.

The adventurous trader who went short at 4360, the short level would have bagged home close to 60 points.

ABAN was set on fire at 850 and comfortably surpassed the second target given.

Bull Level

In the scenario of nifty future crossing 4367 buy at retracement level of 4350 with 4320 as stoploss for target 4390, 4415, 4440.

Bear Level

Short nifty around 4440 with stoploss at 4465 for targets 4410, 4370, 4340.

There are no stock recommendations for 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.

Nifty outlook 29-June-2009

Bull Level

Buy nifty future around retracement level of 4305 with stoploss at 4280 for targets 4345, 4380, 4400.

Bear Level

Short nifty future around 4400 with stoploss at 4425 for targets 4360, 4330, 4300.

There are no stock recommendations for 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.

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Weekly Outlook 29th June - 03 July 2009

Nifty

Nifty has closed in a high resistance zone. 4445 is the first resistance of nifty for the coming week and second resistance is placed quite close at 4490.

On the support side, 4290 and 4250 should offer good supports below which nifty can fall to this weeks low of 4155.

Sultance of Stocks - Reliance

As i had writen last week, RIL came under huge bear attack.

For this week resistances for RIL are placed at 2065 and 2100 while strong support exists at 1955 below which RIL can test long term support of 1875.

King of Banks - SBIN

As i had writen last week, SBIN went into a small trading range.

This week SBIN will have resistances at 1785 and 1820 while supports exist and 1710, 1655.

New Kid on the Block - L&T

Due to new float rule, L&T takes the spot of ONGC in my weekly analysis. Hope readers will appreciate this change.

L&T will have huge resistance at 1640 and 1670. Inability to trade above first resistance level will mean L&T getting a bear attack to support levels of

1600, 1570 and 1540

Nifty Outlook 25-June-2009

Flashback

Readers who went long near the long level would have printed out the almighty dollar as nifty nearly achieved 3rd target on upside.

Bull Level

Buy nifty future around 4250 with stoploss at 4230 for targets 4290, 4320, 4340

Bear Level

Short nifty future around 4345 with stoploss at 4370 for targets 4310, 4280, 4255

As usual no stock recommendations on expiry day

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 alone be responsible for profit/loss.

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Nifty Outlook 24-June-2009

Flashback

Readers who went long near the long level would have printed out the almighty dollar as nifty achieved all 3 targets given.

Readers could not have made use of DLF as the stock opened way down from the short level.

Bull Level

Buy nifty future at 4203 with stoploss at 4180 for targets 4245, 4290, 4325

Bear Level

Short nifty around 4340 with stoploss at 4365 for targets 4315, 4290, 4245

As we are nearing expiry, there are no stock recommendations for 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 alone be responsible for profit/loss.

Nifty Outlook 23-June-2009

Flashback

Readers who went long at long level would have booked a loss as nifty was on a one way track which went only downwards. Readers who went long in reliance capital would have had the oppurtunity to book 20 rs profit as the stock gave up all gains after that

Bull Level

In case of gap down buy nifty future at 4140 with stoploss at 4118 for targets 4190, 4220, 4240

Bear Level

In case of flat or gap up opening, short nifty future at 4290 with stoploss at 4310 for targets 4240, 4190, 4160.

DLF - Feed the Bears

DLF has made a reversal pattern at a key resistance area

Tomorrow short DLF at retracement level 331 with stoploss at 342 for targets 309, 290, 275.

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Nifty Outlook 22-June-2009

Bull Level

Buy nifty future at retracement level of 4285 with stoploss at 4251 for targets 4335, 4370, 4415.

Nifty Outlook 10-June-2009

Flashback

Nifty opened at weekly support level and moved up in a straight line.

Bull Level

Buy nifty future at retracement level of 4468 with stoploss at 4443 for targets 4502, 4560, 4610, 4650.

Bear Level

In case of gap up open, short nifty future at 4620 with stoploss at 4652 for targets 4560, 4530, 4502, 4485

HDIL - One Last Dance

Today HDIL took support at key support level. One can expect some follow up tomorrow.

For tomorrow trading,

buy HDIL on retracement to 265 with stoploss at 254 for targets 287, 302, 320

Nifty Outlook 09-June-2009

Flashback

You saw it here http://jerrytechnicals.blogspot.com/2009/05/weekend-analysis-of-nifty-and-index.html.

"The week ahead should be really interesting because there is a fibonacci time cluster confluence happening on june 4 - june 8.

As traders, we should expect change of trend in this time period."

As expected nifty made a U turn on the fibonacci confluence date of June 8.

Readers of the blog would have made a fortune shorting mcdowell which fell from short level to 3rd target.

Bear Level

Short nifty at retracment level of 4503 with 4540 as stoploss for targets 4460, 4400, 4330, 4300.

Bull Level

Buy nifty around 4300 with stoploss at 4260 for targets 4380, 4420, 4450.

As i expect violent and volatile moves tomorrow, there are no stock recommendations. Let us just enjoy the profit made in mcdowell :-)

Nifty Outlook 03-June-2009

Flashback

Readers who went long in relcapital at 952 would have had the oppurtunity to book longs at 970 as it pulled back really strongly from long level. Nifty stoploss for long was triggered though.
SBI was the star stock today as it bounced back violently from first support level mentioned in weekend analyis . Coincidentally, today's nifty high of 4578 was close to the first resitance level 4570 mentioned in the weekly analysis.

For wednesday trading

Bull Level

In the scenario of nifty future crossing 4560, buy at retracement level of 4528 with stoploss at 4501 for targets 4590, 4615, 4640.

Bear Level

In the scenario of nifty future breaking 4501, short at retracement level of 4528 with stoploss at 4560 for targets 4485, 4450,4420.

Looking good : King of Banks

SBI looks extremely good on charts for tomorrow.

For tomorrow trading buy sbi at retracement level of 1850 with stoploss at 1828 for targets 1885, 1920, 1945,1975

Nifty Outlook 02-June-2009

Flashback

We had to wait from first hour of trade when APIL retraced to 466 to last hour of trade when it hit the first target of 488. At a profit of 25000 rupees+ per lot, this was the sweetest wait ever.

Nifty however triggered the stoploss levels before nosediving to targets.

Bull Level

Buy nifty future at retracement level of 4514 with stoploss at 4485 for targets 4560, 4590, 4610.

Bear Level

Short nifty future at 3rd target of 4610 with stoploss at 4630 for targets 4580, 4540, 4500.

Double Whammy - Reliance Capital

Tomorrow could be a very interesting day to trade reliance capital with oppurtunity to trade on both sides. From the chart, we can see that reliance capital will do well tomorrow. However we can also see that it will run into some huge resitances on the way up.

For tuesday trading

Buy reliance capital on retracement to 952 with stoploss at 942 for targets 980, 1005, 1025.

Short reliance capital at 1025 with stoploss at 1045 for targets 1005, 975, 955.

Bear Level

Nifty outlook 29-May-2009

Flashback


Nifty opened near yesterday's close and zoomed to short level, fell duly to first target and then moved up and stayed in a narrow range. As a result, nifty has moved into a high resistance area.


Star of the day was HDIL who from the short level fell to almost to target 1.


A single lot of HDIL should have given readers well over 50,000 rupees.





For Friday trading





Bear Level


Short nifty future around 4370 with stoploss at 4388 for targets 4320, 4290, 4260


Bull Level


Nifty future crossing 4388 buy on retracment to 4375 with 4355 as stoploss for targets 4400, 4420, 4450.





Trouble Series : Tata motors

Tata motors is unable to pierce through huge resistance at 349.








For thursday trading


Short tata motors around 343 with stoploss at 350 for targets 322, 305, 290.


Note that because the future is in a huge discount, i have given spot levels. Futures traders should take confluence from spot levels to do this trade.

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 20-may-2009

Nifty like a baby learning to walk, tried to find a fair value. As a result, day traders had a field day playing along both sides.

Tomorrow we could witness a range contraction in the range of 4280 - 4530.

In such a case,one could use a simple stochastics crossover in 30 minute chart for trading nifty tomorrow.

Looking Good - Tata Motors

Tata motors, although closed in the minus, took support at the lower end of the channel (see chart).

For wednesday trading

1) In case of gap down buy tatamotors at 293 with stoploss at 282 for targets 319, 335, 360

2) Buy Tatamotors crossing 322 at retracement level of 315 with stoploss at 304 for targets 335, 360.

Nifty Outlook 04-MAY-2009

Flashback

Nifty trigerred long level, zoomed to achieve targets. In a week truncated by two holidays we had brilliant movement in nifty. As they say in spain, El dorado for Day traders .

For monday trading

Bull Level

Buy nifty future at 3450 with stoploss at 3410 for targets 3495, 3520, 3545, 3575


Bear Level

1) Short nifty future at 3575 with 3601 as stoploss for targets 3520, 3495, 3450, 3425.

2) In the scenario of nifty future breaking 3410, short nifty at retracement level of 3430 with stoploss at 3455 for targets 3375, 3345, 3315.


Jewel of ADAG may retest resistance

On monday short relinfra at 730 with stoploss at 754 for targets 695, 680, 665.