Nifty Weekly View and Trading Ideas

By | May 17, 2009

Hi All,

UPA gor a clear mandate and Left Party are left out,A real booster for Bulls.Lot of fund managers retailers were waiting for a Golden Dip to buy but markets are supreme and have befooled us again.

Tommorow Nifty is poised to open with a Huge gap up and if 3820 is crossed which looks like we may be propeeled to 4000.Now here is the catch if somehow we are unable to cross or sustain 4000 we may see a dip.Tommorow Ckt Limit for Nifty is at 3970.Lets see if it reaches there or not

Nifty Technical View Via Chart

We are Holding 3800 CE @78 which i have asked Low risk Trader to book around 95 and for HIfh risk trader it was still open If some Traders are holding watch out for 4000 Levels or Book out as it will given almost 150% return.

Another Positions we took on Friday was 3800 CE and 3500 PE with a Total Premium of 169.This position can also be closed tommorow.

Stock Specific Ideas

Bombay Dyeing has broken out of H&S Pattern on Weely Charts High risk traders Buy around 224-232 Sl 212 Tgt 250 272

Reliance Capital Resistnace at 612 above that 631 on cards

Reliance Industries above 2018 can move to 2064 Levels

DCB buy above 29 for a tgt of 32,35

Titan above 938 1021 is on cards in medium term

Keep a Sl of 1.5 for intra trades and 2-3% on positional trades

Regards,
Bramesh

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