STOCKS WEEKLY GLOBAL OUTLOOK AND STRATEGY: U.K. FTSE100 PREMARKET: 06MAY2009

May 6, 2009

U.K. FTSE100 PREMARKET: 06MAY2009

(Please click on the chart to enlarge)

FTSE100

Found resistance at 4375 and started drifting lower. It is poised at its immediate term support 4312. Short term traders should desist from initiating fresh longs if closes below here, though the bulls are still very much in control. There could be a consolidation between 4200 and 4400, but it is still a buy on decline market in the medium term.

Medium and short term traders can look for reversals from 4293 and 4273 also.

Short term uptrend would be threatened only if gives a close below 4210. Medium term trend is up and the targets upto 4450 and 4600 are intact.

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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.

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Wishing you a happy and successful trading!

STOCKS WEEKLY GLOBAL OUTLOOK AND STRATEGY

May 6, 2009

U.K. FTSE100 PREMARKET: 06MAY2009

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