Nifty 08 May

Nifty looks to have taken support at the trendline shown in the chart and bounced from the lows to close above 5550 level . For trading on Monday the resistance are 5576-5602-5623 and supports are 5526-5500 . One can go long if Nifty sustains above 5602 and add more above 5623 level. If Nifty doesnt manage to breach 5576 then one can short with 10 point stop for quick gains.

Happy trading :)

Beginning Of End ??

LT and Infosys have formed major Head and Shoulders pattern on weekly chart ...Targets are devastating ...

LT target is 600
Infosys target is 2500-2300-may be 1000

Nifty long term view

Nifty has formed a common flat , trgt for C wave is disastrous ....

Sesagoa RHS

346-350 resistance zone ...if sustains above trgt around 380-85

HDFC

As we can see on HDFC fut chart, a very strong HNS formation with NL 701 ....Todays low 708 ...lets wait for breach of NL :)

Positional Trade

Short Bankindia cmp 466 SL 474 Trgt 455-440 Positional Trade

Bankindia Update

Made low 456.90 ....Still sell signal not confirmed though Bankindia has dropped from the 465 level to 456.90 since previous post