The frontline indices traded with a negative bias in the previous week and also had a closing below the crucial level of 4966 on daily charts. We sense some more profit booking would be seen in the coming days, the next crucial levels to watch would be 4886, which is an important support. A close below this would confirm the down trend as per the weekly charts as well. We advise swing / positional traders to book profit in long positions on every rise.
Traders can take short position at current levels with a stoploss at around 5119 and lower side targets of 4890-4810. Delivery based buyers and short term investors should wait for a fall to 4890-4810 and should buy at lower levels or either buy only above 5120.
Stocks to Go Short : Satyam, Unitech , Educomp, TV-18
Stocks to Go Long : Essar Oil, GAIL, Renuka
Previous Week Outlook The bullish rally on the Nifty & Sensex has continued for a long time. Major resistances have been broken which suggests that we are in an overall uptrend. But during this uptrend we can witness some dips where buying opportunities for the short term or the swing traders will arise. Many such dips and rallies will be witnessed at the current levels of 5050-5100 as the market will try to make a base here for making new high’s or the breaching the previous highs. Investors and traders are advised to buy on dips with stoploss at around 4720. Overall up trend is intact. For day traders and overnight traders on the Nifty Future I would recommend going short at currents levels with stoploss around 5180 for the immediate targets of 5009-4945
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{ 9 comments… read them below or add one }
awsome sir
although we are not your client but track your weekly outlook … it work`s great.
First I though what you have written is impossible, but now i saw the results you told about the correction before it happened. thax sir… please provide more tips like educomp, unitek etc…
i will surely subscribe for your tip
Hi sir,
Ur tips so great, im definitely subscribe you tips. befor that pls provide me a good nifty option tips to buy and hold next month to earn good profit.
Ur tips so great, im definitely subscribe you tips. befor that pls provide me a good nifty option tips to buy and hold this month to earn good profit.
i am new to ur prediction
pl send your tips
i want to good tips for the inter day i make the profit so i will subscribe.
I am new to your prediction
please send me your tips
hi….
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i want free tips
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