The P&F chart shows a double top breakout at around 4550. The bullish price reversal is plugged at 6250!!. Word of caution- For this to be achieved Nifty needs to close this month above 4675. Chart courtesy-Stockcharts.com
Thursday, August 27, 2009
Positional Call - Update
Book partial profits at 4712/15.. Nifty bought at 4680. Safe traders can bring sl to cost at 4680. Risky traders can continue to place stop loss at 4650.
Nifty Intraday Calls-27th August
According to the daily charts Nifty will gain momentum only above 4703. The resistance is at 4703 and support for today is at 4660/50. Expect volatile moves between these two levels. Trading stategy will be to buy at support levels and sell at resistance levels.Stop loss to be placed 10 points above and below these levels.
NIFTY POSTIONAL CALL -UPDATE
Nifty buy call given on 25th August-
Buy NF around 4598 sl 4580 target 4640/4675
Both the targets achieved. If you are still holding Nifty then place your trailing stop loss at 4660.
This call given us 77 points profit. High made by Nifty is 4702.
This call is closed now.
Happy Trading
Buy NF around 4598 sl 4580 target 4640/4675
Both the targets achieved. If you are still holding Nifty then place your trailing stop loss at 4660.
This call given us 77 points profit. High made by Nifty is 4702.
This call is closed now.
Happy Trading
Tuesday, August 25, 2009
Saturday, August 22, 2009
NIFTY OUTLOOK
Time and again written from the last two weeks that 4370 is the level to enter postional.
In the last two weeks Nifty came down to this level three times and everytime gave us immediate 100 plus points profit. We have now closed at 4536.20 well above the first target of 4470. For the next week Nifty should first reach 4675. A closure above this on a weekly basis will make the bulls go on a rampage. Keep your trailing stop loss at 4470/50.
If you have followed my levels then you should be richer by 450 plus points . Keep following ....
Happy Trading
In the last two weeks Nifty came down to this level three times and everytime gave us immediate 100 plus points profit. We have now closed at 4536.20 well above the first target of 4470. For the next week Nifty should first reach 4675. A closure above this on a weekly basis will make the bulls go on a rampage. Keep your trailing stop loss at 4470/50.
If you have followed my levels then you should be richer by 450 plus points . Keep following ....
Happy Trading
Monday, August 17, 2009
NIFTY TRADING LEVELS FOR 17TH AUGUST
NO TRADE ZONE
4596 TO 4544
Once Nifty enters the No Trade Zone there will be lot of whip saws.
When Nifty is trading inside the No Trade Zone strategy will be to Buy Nifty near 4544 and sell near 4596. Stop loss will be placed 10 points below or above these levels.
BREAKOUT ZONE
Below 4544 and above 4596
Nifty trading below 4544 signals a break down. Strategy will be to Sell Nifty as close to 4544 and trail it till end of day. Stop Loss will be placed 10 point above 4544
Nifty trading above 4596 signals a break out. Strategy will be to Buy Nifty as close to 4596 and trail it till end of day. Stop Loss will be placed 10 point below 4596.
4596 TO 4544
Once Nifty enters the No Trade Zone there will be lot of whip saws.
When Nifty is trading inside the No Trade Zone strategy will be to Buy Nifty near 4544 and sell near 4596. Stop loss will be placed 10 points below or above these levels.
BREAKOUT ZONE
Below 4544 and above 4596
Nifty trading below 4544 signals a break down. Strategy will be to Sell Nifty as close to 4544 and trail it till end of day. Stop Loss will be placed 10 point above 4544
Nifty trading above 4596 signals a break out. Strategy will be to Buy Nifty as close to 4596 and trail it till end of day. Stop Loss will be placed 10 point below 4596.
Saturday, August 15, 2009
As stated in my previous post (Nifty Medium term Outlook) 4370 was a good level to enter the market. On the monthly charts analysing Nifty using simple trendlines and fib, we can see the rising trendline for this month at 4350 and for next month at 4650/75. My view is that if Nifty can sustain and close above 4650 this month then the target for Nifty is 6175. Please note at no point of time Nifty should break the rising trendline on a weekly closing basis. If we break and close below 4675 next month then this will become the resistance.Sunday, August 9, 2009
NIFTY FUTURE INTRADAY CALL FOR 10 AUGUST
BUY 50% -on crossing 4507
BUY 50% -on retracement to 4492
STOP LOSS -placed at 4470
TARGET-4516/4540
SELL 50% - on breaking 4440
SELL 50%- on pull back to 4454
STOP LOSS-placed at 4474
TARGET- 4430/4407
BUY 50% -on retracement to 4492
STOP LOSS -placed at 4470
TARGET-4516/4540
SELL 50% - on breaking 4440
SELL 50%- on pull back to 4454
STOP LOSS-placed at 4474
TARGET- 4430/4407
NIFTY MEDIUM TERM OUTLOOK
BULLISH VIEW
Postional players are getting exited. They have every reason to be, because Nifty is approaching critical levels on the weekly charts. Watch 4370 and 4474. If Nifty takes support around 4370 levels then go long & stop loss will be placed below 4250. If Nifty comes down to 4370 levels then on crossing 4474 first target will be 4650. Above 4650 we will see new high of this present run.
BEARISH VIEW
If Nifty closes below 4250 then the above bullish view will be negated. Nifty will then become bearish. The stand to be taken will be to sell Nifty below 4200 with a stop above 4350 for targets of 4090 and 3900.
Postional players are getting exited. They have every reason to be, because Nifty is approaching critical levels on the weekly charts. Watch 4370 and 4474. If Nifty takes support around 4370 levels then go long & stop loss will be placed below 4250. If Nifty comes down to 4370 levels then on crossing 4474 first target will be 4650. Above 4650 we will see new high of this present run.
BEARISH VIEW
If Nifty closes below 4250 then the above bullish view will be negated. Nifty will then become bearish. The stand to be taken will be to sell Nifty below 4200 with a stop above 4350 for targets of 4090 and 3900.
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