Our medium term call JK lakshmi cement has achieved the target(read 18-08-2010 post)
Cautious at 5615 if NIFTY could reach that today...the next short term trend starts from there...
Disclaimer: The views and investment tips expressed in this blog is my own, and not that of any website or its management.I advise users to check with certified experts before taking any investment decisions.
Monday, September 6, 2010
04-09-2010 Daily Update
Nifty gave a really good rally on the upside backed by banking and metal stocks...
The stocks that i had mentioned(JSW steel and Hero honda)good movement and Hero honda was a contrarian call...the crucial level was 5540 and NIFTY could successfully surpass that level with decent volume...
NIFTY has already touched its upper channel for the short term at 5570 levels but the medium term upside target would be completed at 5650 levels....by achieving that level NIFTY could form a new trend.... I expect some selling in NIFTY tomorrow or day after tomorrow as it has already kissed the upper channel....
The downside still remains at 5360 levels as it gives a good support for the short term...As i said in my earlier posts till Dow gives a downside break out below 9925 ...the bulls are active
Trading Strategies
Buy 5100 put (Oct), When nifty is trading at 5560 - 5580 levels....
at a correction towards 5460-5480 levels you can start buying one 5700 call (Oct)
You can still buy stocks for intra day with a 5100(Oct) put position
Disclaimer: The views and investment tips expressed in this blog is my own, and not that of any website or its management.I advise users to check with certified experts before taking any investment decisions.
The stocks that i had mentioned(JSW steel and Hero honda)good movement and Hero honda was a contrarian call...the crucial level was 5540 and NIFTY could successfully surpass that level with decent volume...
NIFTY has already touched its upper channel for the short term at 5570 levels but the medium term upside target would be completed at 5650 levels....by achieving that level NIFTY could form a new trend.... I expect some selling in NIFTY tomorrow or day after tomorrow as it has already kissed the upper channel....
The downside still remains at 5360 levels as it gives a good support for the short term...As i said in my earlier posts till Dow gives a downside break out below 9925 ...the bulls are active
Trading Strategies
Buy 5100 put (Oct), When nifty is trading at 5560 - 5580 levels....
at a correction towards 5460-5480 levels you can start buying one 5700 call (Oct)
You can still buy stocks for intra day with a 5100(Oct) put position
Disclaimer: The views and investment tips expressed in this blog is my own, and not that of any website or its management.I advise users to check with certified experts before taking any investment decisions.
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