Thursday, June 7, 2012

Nifty outlook for 07 June 12


positive to gap up opening of approx  1 % is expected with extremely bullish sentiments .
possible resistances for spot Nifty are  5065  5096  5150

above 4945  there is is a new channel / range for spot nifty  4945><5070
 Above 4945 , 5070  5145  will act as resistance for next week
Nifty weekly candle made higher high and higher low ... and closed negative ."

Trade in Nifty Futures as per these levels
Buy at / above: 5020   Targets: 5039 - 5058 - 5071 - 5099-5124>>
Stoploss : 4994

Sell at / below: 4994   Targets:  4974 - 4951 - 4931- 4904
Stoploss : 5020

I am observing few traders are placing opposite orders  means seeing buy call they are placing sell order and booking loss.
be careful please.ensure that u are placing correct order...


I prefer intra day trading on impulsive wave .


basic elliot wave pattern






on 02 nd June I posted
"FIIs were net sellers on 01 June 12  but were net buyers of  Rs 2050 Cr in index options....question is what are they holding  ?
logically they are holding calls I think ... some reasons I shared with one of Dhanvarsha premium member today...will publish soon ,till then you can post your views at comments or mail me at kailash123p@yahoo.co.in"
and I decided to go long and hold long only after that  please have a look
now we are happy ...prediction and logic worked .
I asked him what i said that day and see what he said ..

kailash123p@yahoo.co.in (6/7/2012 8:30:42 AM): can u recall i told u few reasons for nifty's upmove from 4800
Bibin (6/7/2012 8:30:53 AM): one is fib level
Bibin (6/7/2012 8:31:02 AM): other technically oversold
kailash123p@yahoo.co.in (6/7/2012 8:31:02 AM): there were 5 6
Bibin (6/7/2012 8:31:19 AM): then reversal patterns in charts
kailash123p@yahoo.co.in (6/7/2012 8:31:25 AM): 3
Bibin (6/7/2012 8:31:25 AM): fii holding calls
kailash123p@yahoo.co.in (6/7/2012 8:31:29 AM): 4
Bibin (6/7/2012 8:31:38 AM): rsi oversold
kailash123p@yahoo.co.in (6/7/2012 8:31:42 AM): 5
Bibin (6/7/2012 8:31:51 AM): macd converging
kailash123p@yahoo.co.in (6/7/2012 8:31:54 AM): 6
Bibin (6/7/2012 8:32:06 AM): ok
kailash123p@yahoo.co.in (6/7/2012 8:32:14 AM): gud
kailash123p@yahoo.co.in (6/7/2012 8:32:20 AM): keep it up
Bibin (6/7/2012 8:32:25 AM): thank you
80 points gain on Nifty buy advise ...see at chart please

Have a gr8 day 

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