Dear All,
Nifty has completed 12 Weeks of Weekly Positive close and May Series posting a Mind Blogging 25% Return Highest in any Series So far.So what’s Next Will 13 Week Prove Unlucky to us?? Time will only tell.
In many Respect Next Week is quiet interesting if seen from trading point of view As as mentioned in last week Nifty Analysis Longs should only be initiated above 4320 Levels and see we are up almost 120 Points from 4320 Bull’s Eye.
The markets gained further momentum on favourable GDP numbers and continued its uptrend.
However, the market came off marginally from the day’s Read more
Again the week was good. A woofing 200 points upside on NIFTY.
What we saw last week?
Good global cues.
Moderate Q4 results.
Inflation unchanged.
Good GDP.
Rupee Gaining strength.
Gold back on 15k levels.
Increase in average Indian Salary.
Biggest monthly in in 17 years
Sectors to watch :
IT – Rupee and dollar movements make this sector week as rupee is gaining strength on dollar.
Pharma – A positive one.
Fertilizer – Monsoon is over head.
But upside from these levels seems limited unless market develops the formation of handle of the cup pattern.
To form handle of cup pattern market has to go into little correction phase anytime fron these levels and 20% to 30% correction seems due at these levels.
Unless market forms the pattern of cup with handle further upside gets limited and one cant expect this rally to continue much longer, but with cup and handle formation markets can move Read more
hi frnds ….we recomend for friday to buy above 4372 …hope u enjoy of 123 points movment after 4372 …..nifty high 4495 n its close at 4453 ….so wt to do nw? …4570-4580 is level to watch with open eyes ..if it cross n close above this level for two days then nobody can stop 4856/5000/5150 . in downside 4100 is vry important support . no need to worry for bulls above 4100 . so 4100 n 4580 is level to watch for whole months .
monday trading levels- buy above 4498 sl- 4469 tar- 4523/4570 Read more
Source – IndianMoneyPlus.Com
Last week we saw NIFTY zooming up.
Last week NIFTY closed at 4238 and this week at 4448.85 a major gain again.
FII’s participation was excellent.
NIFTY TRIN at 0.24
NIFTY Range – Between 4210 to 4645
Current Spot – 4448.85
Support – 4340 and 4210
Resistance – 4575 and 4635
Reversal from either of these levels would provide the opportunity to init Read more
Source – http://www.stockmaniacs.blogspot.com: Nifty closed 2.6% higher on Friday, on a bit euphoric buying throughout the day. All the momentum indicators of the intraday charts remained overbought throughout Friday, but price continued to see newer highs. The daily chart indicates strong resistance exists at last swing high at 4509, and close abouve this will set the momentum to test 61.8% retracement level of the bear market fall at 4789. Wh Read more
TRADING STRATEGY FOR 1ST JUNE 2009
(Based on technical by O P AGARWAL)
Markets likely to extend rally on positive global cues
Markets closed the week with solid gain and may extend a pre-budget rally on hopes that the newly installed Congress led government at the center will push forward the economic reforms speedily. The Sensex has moved more than 50% during this year with massive inflow of funds by the FIIs. Market participants are hopeful that the earlier pending reforms relat Read more
But upside from these levels seems limited unless market forms handle of the cup pattern.
To form handle of cup pattern market has to go into little correction phase anytime and 20% to 30% correction seems due at these levels.
Unless market forms the pattern of cup with handle further upside gets limited, but with cup and handle formation markets can move to Read more
Caution below 4438…. Read more
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