Friday, May 11, 2012

Nifty outlook for 11 May 12


Flat to positive opening is expected ..candles are giving reversal signs ...yesterday again an inverted hammer type candle was there  ...but confirmation required .. currently market is trading in range  below 200 DMA .... market is over sold ...FIIs were net buyers yesterday ...smart traders are accumulating in stocks which are bottomed out...where down side side risk is limited ...


it was posted on Sunday 06 May 12
if failed to move above 5120 in 2 sessions then nifty will trade in a new range 5100>><< 4900>><< 4710 .
rest is indicated on nifty charts . 
http://www.dhanvarsha.in/2012/05/nifty-outlook-for-week-ending-11-may-12.html 
Nifty futures intraday levels ..
Buy at / above: 4970  Targets: 4985- 5003 - 5020- 5038
Stoploss : 4952
Sell at / below: 4952 Targets: 4937 - 4919- 4902 - 4884
Stoploss : 4970

yesterday advised to buy bhel at 217  218   traded at 222..

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