Archives : PULL BACK BEGINS. NIFTY TARGET 4324-4402.-04/07/2008

PULL BACK BEGINS. NIFTY TARGET 4324-4402. – 04/07/2008.  

Last week as we suggested there will be a reversal and the reversal did happen amongst gloom and doom. I am happy not only for my prediction going accurate but for millions of investors who read our paper and are benefited. This makes me work still harder and hopefully will be able to serve all our readers like this always.  The Sensex and Nifty made a Bullish Engulfing Pattern on Wednesday and reversed the direction forming a bottom of 12822 on the Sensex and 3848 on the Nifty. The market was looking extremely gloomy and everyone thought that we would plunge to unbelievable levels, but alas that was not to be as once again we hit bull’s eye and the market managed to reverse its direction in this week.  

  • SENSEX:
  • NIFTY:

  • HOW TO TRADE?
  • LAST  WEEK S RECOMMENDATIONS:
  • All our Recommendations ONCE AGAIN Reached their Targets 100%......

To say the Performance was Extraordinary…… would be an under statement. KEEP IT UP.

If you had sold 500 shares of Tata steel, 200 shares of L&T, MCDOWELL, REL CAPITAL & 1000 shares of ROLTA…just check the Profits.Tata Steel 500*100=50,000, L&T 200*164=32,800, MCDOWELL 200*245=49,000, REL.CAP 200*133=26,600, ROLTA 1000*38=38,000.

More than Rs.186000 profits in 5 days flat…not bad at all…

  • THIS WEEK S RECOMMENDATIONS:
  • WATCH OUT FOR :


PULL BACK BEGINS. NIFTY TARGET 4324-4402. – 04/07/2008.  

Last week as we suggested there will be a reversal and the reversal did happen amongst gloom and doom. I am happy not only for my prediction going accurate but for millions of investors who read our paper and are benefited. This makes me work still harder and hopefully will be able to serve all our readers like this always.  The Sensex and Nifty made a Bullish Engulfing Pattern on Wednesday and reversed the direction forming a bottom of 12822 on the Sensex and 3848 on the Nifty. The market was looking extremely gloomy and everyone thought that we would plunge to unbelievable levels, but alas that was not to be as once again we hit bull’s eye and the market managed to reverse its direction in this week.  

SENSEX:
 

Sensex opened the week at 13791, made a high of 13872, low of 12822 and closed the week at 13454. Thus weekly loss for the Sensex was 348 points. The RSI was oversold and was suggesting a pull back and that is what we got. On the candle stick pattern Sensex formed Bullish Engulfing Candle on Wednesday. Next day, the Sensex went down forming a Bullish Harami pattern. On Friday the market then had to go up. Sensex has a gap between 14510 and 14519, which will act as a strong resistance. The Trendline Resistance is at 14032-14634-15122. Strong Trendline Support is at 13401-13071. The current up move is a pull back rally and the correction levels are placed at 14699-15279-15858. For the week ahead, Resistance will be at 13872-14031-14449-14645. Support is at 13122-13071-12822.   

NIFTY:

 


Nifty opened the week at 4136, made a high of 4163, low of 3848 and closed the week at 4016. Thus, weekly loss was 120 points. Nifty too formed Bullish Engulfing followed by Bullish Harami pattern and then went up on Friday. The Trendline Resistance for the Nifty is at 4334-4421-4472. The Trendline Support is at 3976. Lot of PUT writing is visible at the strikes of 3700, 3900 and 4000. These levels will act as good support. Nifty is in a pull back mode and the correction levels for the Nifty are immediately placed at 4402-4573-4744. For the week ahead Resistance will be at 4107-4163- 4324-4392. Support will be at 3976-3896-3848.

  

HOW TO TRADE?
 

Nifty is in a Pull Back mode and the target can be 4300 to 4400. One can construct a Bull Call Spread for the Nifty between strikes 4000 and 4300.One can also construct a Bull Spread for RNRL for a target of 80.  

LAST  WEEK S RECOMMENDATIONS:


 

All our Recommendations ONCE AGAIN Reached their Targets 100%........

To say the Performance was Extraordinary…… would be an under statement. KEEP IT UP.

SELL TATA STEEL 726 TGT 697-680, REACHED 626.
 

SELL L&T 2265 TGT 2180-2127-2055, REACHED 2101.
 

SELL MCDOWELL 1249 TGT 1204-1167, REACHED 1042.
 

SELL REL CAP 954 TGT 926-912, REACHED 821.
 

SELL ROLTA 261 TGT 250- 242, REACHED 223.   

If you had sold 500 shares of Tata steel, 200 shares of L&T, MCDOWELL, REL CAPITAL & 1000 shares of ROLTA…just check the Profits.Tata Steel 500*100=50,000, L&T 200*164=32,800, MCDOWELL 200*245=49,000, REL.CAP 200*133=26,600, ROLTA 1000*38=38,000.

More than Rs.186000 profits in 5 days flat…not bad at all…  

THIS WEEK S RECOMMENDATIONS:  

BUY I-FLEX 1511 SL 1461 TGT 1545-1597.

BUY REL 771 SL 738 TGT 818-871-901.

BUY DCB 52 SL 49 TGT 57-63.

BUY ORCHID CHEM 256 SL 250 TGT 264-270-278.

BUY ADLABS 380 SL 356 TGT 409-417-432.

BUY HDFC 2057 SL 2002 TGT 2098-2137.  

BUY NAGARJUNA CONST 125 SL 120 TGT 133-143.   

WATCH OUT FOR :

I-FLEX 1511, HAS FORMED A BULLISH OPENING MARUBUZO ON FRIDAY AND THE FORMATION OF THREE WHITE SOLDIERS GIVES MORE BULLISHNESS. KEEP SL 1461 TGT 1545-1597.   

BUY DCB 52. KEEP SL 49 TGT 57-63-72. MACD – BUY, ROC indicates momentum. VOLUME led Breakout.  

Disclaimer : The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. No representations can be made that the recommendations contained herein will be profitable or that they will not result in losses. Readers using the information contained herein are solely responsible for their actions. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness.

Copyright © 2000 - 2018 Jatin Sanghavi. All rights reserved.
No part of the material on this website may be reproduced or distributed in any forms or by any means, electronics or mechanical without the written permission of the author.
Sitemap