Nifty Analysis for June 9 - Tanmoy Ghosh

Nifty spot closed at 4627.80 and crude on Saturday (13:55 IST) was 138.14. Some selloff may come on Monday, but also a recovery is anticipated. There will be huge velocity only above 4661.85, with a trailing stoploss of 4590.60. Below 4590.50, the target would be 4539.50, and if further cracked downward, a huge selloff can be expected. Above 4662, the target is 4715.25/4748.25. Above this level, a strong resistance is 4802.50. Do not expect a good move before June 8. However, after June 12, a huge bull could come, for a weekly target of 4970 or 5158.

Nifty Update - Next Turning Point June 11 - Tanmoy Ghosh

Nifty spot will now find a very strong support at 4635.55, after which it is going to hit a minimum spot level of 5177 within one week. On June 11 (plus or minus one day), market will change its present direction. I had earlier predicted April 17 and May 22 as a turning point, and the market has behaved as said. Similarly, June 11 is another turning point.

If Nifty crosses above 4786.80 tomorrow, it will be positive, and below this level it will be negative.

Nifty Spot for May 23 - Tanmoy Ghosh

Nifty Spot is positive above 5068.25 and negative below 5051.50 . The upper target for Nifty is

5095.30/5122.30and strong resistance at 5122.30. The lower target is 4984.65 / 4957.20. There is a strong support at 4967.9.

Nifty Spot for May 22 - Tanmoy Ghosh

Nifty spot would be positive only above 5123.45, with an upper target of 5137/5145/ 5167/ 5181.
If it sustains above 5167, which is a strong resistance, then we could see 5202/ 5210/ 5222 max.
Below 5111, we will be negative and the lower target would 5043, which would be a strong support.

STOCKS TO WATCH: ISPAT, M&M.

Nifty Spot for May 21 - Tanmoy Ghosh

Nifty is positive above 5129.30 and negative below 5115.80.

Lower target is 5062 / 5035, but Strong Support @ 5048;
Upper target is 5143 / 5151 /5160 / 5173 / 5188;

If Nifty sustains above 5173 , then upper target is 5209 / 5229.

Weekly Market Updates for May 19-23 - Tanmoy Ghosh

The Nifty Spot gained 185.30 points last week, which is very bullish for the market. If this sustains above the 5160 level, then T1 is 5201, and above this 5216 and 5229.
There will however be strong resistance 5176 and 5191. Below 5150, Nifty will be weak with downside targets as 5104-5094.

As you all have seen, Nifty turned on my prediction of April 17, when everybody was saying that the market would go down. Now again I am saying that the trend reversal dats would be May 22, 2008, adding or subtracting 1 day. Even if the market comes down, it will be a temporary correction.

Stocks to watch are MARUTI \ IFCI \ RAJESHEXPO and M&M.

Good luck.

Nifty Spot for May 15 - Tanmoy Ghosh

Spot Nifty +is positive above 5039; and UT is 5062 / 5102 / 5122 max;
and lower target below 5001 is 4961 / 4929 max.
Watch IFCI. Hope you all remember my prediction on April 17. Now watch May 21, (plus or minus 1 day), the day for correction.

Nifty Prediction for May 13 - Tanmoy Ghosh

Spot Nifty will be very positive only above 4996.60. Below this level, short the Nifty for a target of 4913, which is a strong support level. The move above 4996.60 has a target of 5040.25, and 5067.25 to 5111.65. There is strong resistance at this level. We anticipate the trend to be intact above 5040.