STOCKS WEEKLY GLOBAL OUTLOOK AND STRATEGY: WEEKLY INDEX OUTLOOK: 13OCT TO 17OCT 2008

Oct 12, 2008

WEEKLY INDEX OUTLOOK: 13OCT TO 17OCT 2008

S&P CNX NIFTY (BSE SENSEX)

Near Term and Medium Term, both are very negative.

3620(11503) Resistance. Surpassing this resistance would be a great achievement but...?
3510(11262) Resistance. Inability to move above here would be a cue to remain short.

3280(10527) Current levels.

3000(10000) Support. But a psychological support only.
2940(9700) Support. A short term trough is likely at this level. Though unlikely in near future, a close below 2900 would raise doubts over recovery in the long term.

2600(8800) This level would be in the reckoning in case the above support does not hold.

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

About the Weekly Outlook above
This page is updated from time to time unless, restrained by unavoidable circumstances. Every care is taken to give you a profitable outlook but trading in stock markets can be risky and cause financial loss. We do not take responsibility of any situation arising out of the outlook and recommendations here. Therefore, please use your own discretion!

We suggest a homework with pen and paper to draw your strategy. Trading on the basis of this outlook is a matter of developing a habit so as not trade all the time and every time; or keep watching the screen round the clock, looking for a kill. Just find some other occupation that keeps you away from the screen from time to time.

Plan your 'trade-setup' meticulously after a diligent homework. Have no heart burn if markets are moving up and you were not able to initiate trade. There are many who are losing also in a rising market because of a wrong trade-setup initiated in an unplanned manner. You never miss the bus in stock markets as it stops by you again and again. Just plan 'when' to ride profitably. May be next week or perhaps after 2-3 weeks and even next month series.

Long term investing is always suggested but this outlook is also suitable for swing trading, options trading or short term investing though, the given levels are relevant in any kind of trading or investing. The levels given here are effective on "closing basis". So, initiate or close the trade set up accordingly. Square off your positions well before the target and not wait for a precise hit of the target. Those who are not familiar with derivatives, may not trade in our F&O calls.

Please follow my tweets on TWITTER. also.

Wishing you a happy and successful trading!

STOCKS WEEKLY GLOBAL OUTLOOK AND STRATEGY

Oct 12, 2008

WEEKLY INDEX OUTLOOK: 13OCT TO 17OCT 2008

No comments:

Post a Comment

About

My Twitter Followers May Read At Least Previous 12hrs Tweets To Maintain Continuity Of the Outlook

Quick Updates

World Markets Now

Crude Oil Now (peaked at $147 levels in July 2008)

Select Readings

Blog Archive

About Me

Economic Calendar(Pls. scroll down)

Visitors 30th APR 2009 Onwards