Nifty outlook for 07 June 12

positive to gap up opening of approx  1 % is expected with extremely bullish sentiments .
possible resistances for spot Nifty are  5065  5096  5150

above 4945  there is is a new channel / range for spot nifty  4945><5070
"  Above 4945 , 5070  5145  will act as resistance for next week
Nifty weekly candle made higher high and higher low ... and closed negative ."

http://www.dhanvarsha.in/2012/06/weekly-outlook-of-nifty-for-week-ending.html 

Trade in Nifty Futures as per these levels
Buy at / above: 5020   Targets: 5039 - 5058 - 5071 - 5099-5124>>
Stoploss : 4994
Sell at / below: 4994   Targets:  4974 - 4951 - 4931- 4904
Stoploss : 5020
I am observing few traders are placing opposite orders  means seeing buy call they are placing sell order and booking loss.
be careful please.ensure that u are placing correct order...


I prefer intra day trading on impulsive wave .









on 02 nd June I posted
"FIIs were net sellers on 01 June 12  but were net buyers of  Rs 2050 Cr in index options....question is what are they holding  ?
logically they are holding calls I think ... some reasons I shared with one of Dhanvarsha premium member today...will publish soon ,till then you can post your views at comments or mail me at kailash123p@yahoo.co.in"

http://www.dhanvarsha.in/2012/06/fiis-were-net-sellers-on-01-june-12-but.html 

and I decided to go long and hold long only after that  please have a look

http://dgrpchat.blogspot.in/2012/06/please-evaluate-dhanvarsha-on-02-june.html

now we are happy ...prediction and logic worked .
I asked him what i said that day and see what he said ..

kailash123p@yahoo.co.in (6/7/2012 8:30:42 AM): can u recall i told u few reasons for nifty's upmove from 4800
Bibin (6/7/2012 8:30:53 AM): one is fib level
Bibin (6/7/2012 8:31:02 AM): other technically oversold
kailash123p@yahoo.co.in (6/7/2012 8:31:02 AM): there were 5 6
Bibin (6/7/2012 8:31:19 AM): then reversal patterns in charts
kailash123p@yahoo.co.in (6/7/2012 8:31:25 AM): 3
Bibin (6/7/2012 8:31:25 AM): fii holding calls
kailash123p@yahoo.co.in (6/7/2012 8:31:29 AM): 4
Bibin (6/7/2012 8:31:38 AM): rsi oversold
kailash123p@yahoo.co.in (6/7/2012 8:31:42 AM): 5
Bibin (6/7/2012 8:31:51 AM): macd converging
kailash123p@yahoo.co.in (6/7/2012 8:31:54 AM): 6
Bibin (6/7/2012 8:32:06 AM): ok
kailash123p@yahoo.co.in (6/7/2012 8:32:14 AM): gud
kailash123p@yahoo.co.in (6/7/2012 8:32:20 AM): keep it up
Bibin (6/7/2012 8:32:25 AM): thank you
80 points gain on Nifty buy advise ...see at chart please

Have a gr8 day