WEEK GONE BY
As indicated in my last weekly report, Nifty continued its negative bias & recorded its third consecutive weekly negative close. Nifty closed the week at 4757, down 125 points. Against the trading range of 4680-4910 indicated by me, Nifty traded in the range of 4692-4951. The high of the week of 4951 was recorded on Tuesday, and the low of 4692 on Friday. With this, nifty lost slightly more than 600 points from its recent peak of 5310.
WEEK AHEAD
For the week ahead, nifty will show its indecisiveness to bounce back or fall further, by trading in a tight range of less than 150 points. It may close for the week NEAR FLAT. The trading range for the week is likely to be 4670-4810.
STOCK RECOMMENDATION
My stock pick for the week is SUZLON (cmp 73). BUY this share at around 70 for a short term target of 90.
OPTION RECOMMENDATION
Watch the price of Nifty Call Option 4800CE (cmp 93). BUY this option around 50 for a target of 120-150.
NIFTY SMS TRADES - 2010
06/02/10 29/01/10 For 2010
A. Total Trades: 4 15 19
B. Winning Trades: 3 11 14
C. Losing Trades: 1 4 5
D. Points Gained: 62 283 345
E. Points Lost: 26 57 83
F. Net Gain: 36 226 262
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