Stock Market Pre-Opeping Outlook: As per my last weekly review, Nifty opened with positive biased and nifty has achieve all targets with crossing 5400 resistance level. But 5400 level showed really strong resistance and nifty was slipping down below 5393 level each and every time nifty tried to make 5400 mark. Global stock markets like EUs, Asian and DOW jones was alos in supporting mood to help indian market reach at 2 years high mark. But there is something wrong happening this week though all are predicting high indian growth stories. We have gone short on 5375-5390 levels after nifty closed below 5400 level. But after that nifty was trading really in short range of 5360-5393 levels. Now time has come to see 5350 and 5310 marks on nifty and i am hoping that nifty should touch my targets of 5350 and 5310 this week and that is also before wednesday. So those who had not covered short position (I had emailed also to remind you not to cover that) will reap really good money this week. Now dont ask me to book profit at 5350 or 5310 levels, I clearly told you that 5310 is final target in short position. “My words: Nifty can’t close between 5350 to 5420 mark for july series so possibly 5270-5350 or 5420-5460 are possible range for nifty closer.”

• Nifty Last Week Position: Initiated Short position at 5393 levels for target of 5350-5310 without any stop loss (for reference search my email history). Book partial profit at 5350 mark on monday and rest at 5310 on tuesday/wednesday
• Nifty Range: Below 5380 Support 5350, 5310, 5265 Resistance  5393, 5407, 5420
• Weekend News: US based Chicago Mercantile Exchange  (CME) launches 2 nifty futures contracts on their exchange named E-Mini contract and E-Micro Contract. Investors who want to bet on indian market can trade for almost 23 hours. National Stock Exchange (NSE) is also waiting for SEBI approvals for launching future contracts of S&P 500 index. Read more…
• Weekly Future Stocks (Remember Not for intraday)
  • Reliance Capital: On monday it may go down by 1-2% but use that to buy Future for target of 813, 822, 828
  • Jindal Saw: Buy this at 200-202 for Target price of 210, 216
  • Godrej Industries: Buy this around 183-184 for target of 190, 193
  • Punjab National Bank: Buy this around 1060 on monday for target price of 1080-1090
  • Tulip Telecom: Buy this and hold for target of 192-197-200 (Positional Call)
• Stocks to watch today: JK Tyre, Steel Strips, Gitanjali Gems, Dena Bank, Ace India Ltd., Titagruh Wagons
• Weekly Sector to watch : Bewerages (Mcleaod Russel, Jay Shree Tea) ,Textile/Chemicals (Garden Silk, Bombay Dyeing, Orchid Chemicals and Thirumalai Chemicals) and IT Education (NIIT, Aptech, HCL Infosystem and Jetking) and Trading Calls: Panasonic Home Appliances, Escorts and TVS Motor
• We have booked full profits in 2 baskets in 6-8 trading sessions. For more details refer Basket 1, Basket 2