Nifty Roaring.

Last time when i gave nifty target 3000 on Feb 3 it rallied to 2950 and went down again, but this time its back to 2945 again and ready to kiss 3k.
Be always on the minority side, because the majority side always lose .
My earlier post.
http://tradewithguru.blogspot.com/2009/02/nifty-target-3000.html

Happy trading!!
Our clients have taken position at 2760 and still holding :)

13.3.2009 performance

Ansal infra buy at 22.3 went to 23.4

Sintex buy at 75.5 went to 89.

Hdil buy at 67.5 went to 69

Risky short in bank nify booked 10 points loss

Gvk shorted at 18.3 hit stop of 18.6.

12.3.2009 performance

Short nifty at 2628 and booked profit at 2598.
JP assoicated short at avg 66.6 exited at cost
Zee buy at 91.5 hit 92 and hit stop loss of 90.3

9.3.2009 performance

Everonn buy call at 88.5 stock rallied to 93.
Wwil gave buy at 11.2 hit 12.4. More than 10 % up.
Bank nifty gave buy at 3360 with stop of 3353.. Later updated stop to 3358 which got hit...
Nifty short gave at 2540 and exited at 2538.

6.3.2009 performance

Nifty buy at 2540 booked fully at 2570.
Bank nifty shorted at 3515 booked at 3471 after that it went to 3420 levels.
Hind oil buy at 46.3 booked fully at 47.5
Wipro buy at 209 booked at 215
Aban avg buy at 242 levels booked part profit at 246 and stop loss triggered at 238.

6.3.2009 Outlook

As already mentioned yesterday "Nifty is still in oversold zones & further recovery to 2690-2695 is indicated on the charts. On the other hand, move below 2610 may accelerate the decline towards 2500 & below.". Nifty, contrary to the positive news on interest rate cut, positive global markets opened on a flat note & it recovered to touch an intra day high of 2663 but failed to sustain these levels for a minute even & immediately crashed to enter in negative zone after breaking support of 2620. The breakout had set a target of 2550 of Nifty future which was also achieved during the day. Nifty bounced back from the levels of 2564 & closed at 2576, about 68 points below the previous close.As far as, short term charts are concerned, Nifty is making lower tops & lower bottoms near very crucial support of 2550, breakout from where will set another target of 2450 & below which may be achieved soon. On the bullish side, move above 2805 will negate the bearish outlook. Since most of the important index stocks like Reliance, SBI, ICICI Bank are either bearish or on the verge of giving bearish breakout in EST charts.As for as bar reversal in Daily charts are concerned, stocks like Akruti, JP Associates, Titan, Voltas, Dabur, Rajesh Export, have given "Upward Bar Reversal" while Reliance, ONGC, REL Infra, Educomp, HDFC Bank, Rel Cap, L&T, NTPC have given "Downward Bar Reversal". Stocks like Berger Paint, Pyramid, Hind Motors, Patni comp, Hind Zinc, Videocon, Piramal have shown spurt during the day with unusually high volumes.Sector wise, select few stocks like Akruti, Voltas, JP Associates, Sun pharma & Titan, LITL, etc. managed to close in positive zone where as stocks like Everonn, Ranbaxy, Aban Offshore, Satyam, most of the banking stocks managed to close in positive territory. As far as, A/D data is concerned it was in favor of bears in the ratio of 3:1 with 894 declines & 280 advances during the day.
In nutshell, Nifty is making lower bottoms & lower tops & the support of 2565-2550 is an important landmark, break from this support can wipe off 100 points where as Nifty likely to recover to 2620-2675 if the support of 2550 is held. The best strategy should to concentrate on oversold banking stocks which are ripe for technical recovery in coming sessions.

5.3.2009 Performance

Sesa goa booked at 78 yesteray open call.
Syndicate booked at 43 yesteray open call.
Jp Associate at 66.65 yesteray open call.
Gave warning that nifty would go down 40 points and it did !!
M&M short exited at cost.
Bank nifty buy call 3430 went upto 3460.