NIFTY - weekly out look.

Great Bhalooji gave one level of Nifty long back, that is 5479 as a very important one. Despite of good rally in US market, nifty did not go above 5477.50. I was having overnight short position in Nifty, and still have short position. I added more short at gap up, and covered it at lower levels. Stop loss for pending short position is 5485 spot.

* Last week, 5345 was not breached. Nifty showed good bullishness.

* If the positive break out in Nifty is not a false one, Nifty can immediately hit 5499.87.

* If it is a false break out, Nifty can go down up to 5375.97.

Nifty - weekly outlook.

* One can go short below 5345, with the target of 5275.

* Stop loss for shorts can be above 5350.

No updates till 12-07-09

As I am going out of station,

no updates till Dt.12-07-09.

Take care, Happy trading.

( Please do not call me )

NIFTY - Weekly outlook.

* 5184.92 is one of the support. If nifty does not respect this support, it can plunge upto 5060.12

* Move above 5320 can lead nifty upto 5391.63.

* Nifty looks bearish at this point of time. On 1st July, Thursday, at around 9.30am warning was posted in the shoutbox along with the chart link.

* In the post of 5th June 2010, fears of interest rate hike was posted. http://dharmeshtshah.blogspot.com/2010/06/global-jitters.html

NIFTY - Weekly outlook.

* Nifty formed a shooting star with relatively smaller tail then expected on weekly chart. If it was formed tagging UBB, then it would have been more bearish. There can be an intra week correction.

* Nifty can correct upto 5225.

* Area around 5185 level will be a good long entry level.

* Any move above 5340 can add some 50 to 60 odd points.

* Nifty can spend some time consolidating before going for a big move.