Nifty Weekly Newsletter

Hi,
Here is Our Nifty View for the week 31 May - 04 June 2010

Last week Nifty opened at 4980, saw a high of 5053 and closed at 5040. High volatility was seen in the market.
Nifty is trading in a downward trading channel; pullback which we have seen in the last week was just short covering. Now nifty has come close to upper trading channel, 5100-5130 happens to be a major resistance, this range will get narrower in the coming weeks before taking a breakout. This week range will be 5130-4850.
This week strategy should be to sell at 5050-5100 with stop loss of 5150 and target of 4850. Selective buying could be done at this level for long term gains.

Short/Medium Term Trend “Neutral to Bearish“
Long Term Trend “+ ive”

For More details Log on to http://www.niftyfiftystocks.com/weekly_nfs_newsletter

Rgds
Ankur

NIfty Outlook and Stock Calls

NIfty Outlook

Short Nifty with closing basis sl of 4165 tgt 3650




Stock Outlook

Lupin: short it at cmp (809) and closing below 800 and its tgt will be 710(for safe trade wait till its close below 800)(can short on rise as well at 825-830 with sl 861 on closing basis)
(classical pattern,sure sell)

LnT: any close below 1400 and the tgt will be 1200


DLF: sell at cmp (283) sl of 290(closing basis) tgt 180

RNRL: sell RNRL (cmp 76.8) on rise till 80 sl 85 on closing basis tgt 60


keep an eye on videocon

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