Newsletter dated 29th April, 2009
NIFTY
Yesterday Nifty (spot) closed at 3362 which is below its 9DMA of 3396 and 200DMA of 3380. This is not a comforting sign. But today Nifty is likely to open gap up. This opportunity should be used to exit your long position and initiate shorts. Nifty is finding difficult to sustain at higher levels. Nifty would face resistance at 3442, 3472 levels. On lower side, the support could come around 3380, 3354, 3339 levels.
RELIANCE INDUSTRIES
Yesterday it closed just below its 9DMA, giving indication that it may top out. Today it may open gap up which should be used to exit longs and initiate shorts. At higher levels it would face multiple resistance at 1784, 1792, 1798 and 1808.
BHARTI AIRTEL
Although Bharti is trading above its 9DMA, but we expect it to come close to its 9DMA is very as broader market is not looking very good. It might open gap up today. A short position could be initiated. At higher levels it would face stiff resistance at 749, 758, 762 levels. It would take support at its 9DMA currently at 711.
Note: The above mentioned strategy is just an indication. Do your own homework before initiating any trades based on above information. The online calls are given to our paid clients only via messenger and sms.
Anurag Dujari
Mobile: 92308-92309
E-Mail- anurag130@gmail.com
Yahoo Messenger ID - trading_picks
Disclaimer and Terms of Use: Stock market is subject to risk. High risk high gain is the key to stock market. We are not responsible for any loss or profit associated with stocks mentioned on this site/ by us. Under no circumstances will we be held liable for losses incurred due to information presented anywhere on the site or given through yahoo messenger or SMS. Please do your own research before establishing an equity/ derivatives position in a company. Not all stocks recommended by us are suitable for your investment needs. Carefully evaluate your own risk appetite. Any error in this document cannot be claimed by anyone. The articles on this site are not written by a registered investment advisor. The author may or may not be holding a position in companies that are being analyzed. More likely than not, the author will have an interest in the stock mentioned....
Yesterday Nifty (spot) closed at 3362 which is below its 9DMA of 3396 and 200DMA of 3380. This is not a comforting sign. But today Nifty is likely to open gap up. This opportunity should be used to exit your long position and initiate shorts. Nifty is finding difficult to sustain at higher levels. Nifty would face resistance at 3442, 3472 levels. On lower side, the support could come around 3380, 3354, 3339 levels.
RELIANCE INDUSTRIES
Yesterday it closed just below its 9DMA, giving indication that it may top out. Today it may open gap up which should be used to exit longs and initiate shorts. At higher levels it would face multiple resistance at 1784, 1792, 1798 and 1808.
BHARTI AIRTEL
Although Bharti is trading above its 9DMA, but we expect it to come close to its 9DMA is very as broader market is not looking very good. It might open gap up today. A short position could be initiated. At higher levels it would face stiff resistance at 749, 758, 762 levels. It would take support at its 9DMA currently at 711.
Note: The above mentioned strategy is just an indication. Do your own homework before initiating any trades based on above information. The online calls are given to our paid clients only via messenger and sms.
Anurag Dujari
Mobile: 92308-92309
E-Mail- anurag130@gmail.com
Yahoo Messenger ID - trading_picks
Disclaimer and Terms of Use: Stock market is subject to risk. High risk high gain is the key to stock market. We are not responsible for any loss or profit associated with stocks mentioned on this site/ by us. Under no circumstances will we be held liable for losses incurred due to information presented anywhere on the site or given through yahoo messenger or SMS. Please do your own research before establishing an equity/ derivatives position in a company. Not all stocks recommended by us are suitable for your investment needs. Carefully evaluate your own risk appetite. Any error in this document cannot be claimed by anyone. The articles on this site are not written by a registered investment advisor. The author may or may not be holding a position in companies that are being analyzed. More likely than not, the author will have an interest in the stock mentioned....
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