FTSE Outlook week commencing 30 Nov 09

5400 has proved to be a major hurdle for FTSE. In fact, I am left wondering if with 5396, has FTSE pretty much run out of fizz for the year? Are we headed down big time?

For the next few days, 5000 seems to be a good possibility. But the market can do strange things. Be careful out there - these are troubled times.

NIFTY Outlook week commencing 30 Nov 09

NIFTY began the week with what looked like a solid rise. Then came Thursday and Friday! NIFTY and the other markets fell in one massive hurry. Interestingly, NIFTY fell to the lower line of a long-running channel (brown). Price has bounced sharply off this line and may contintue rising. Up to a point. I suspect there could be lots more downside to come. So watch out for the red trendline providing potential resistance if and when NIFTY gets to that level.

FTSE Outlook week commencing 16 Nov 09

As the chart shows, the index is seemingly hitting a wall at around 5300. Although the trendline studies I have put up on the chart seem to suggest a possible target in the vicinity of 5400, we may have possibly seen a top at 5300 itself. As ever, the market is right and we can only try and approximate its direction and destination. Good luck with your trades.

NIFTY Outlook week commencing 16 Nov 09

The big question is how far will this rally last? I have targets at 5134 and 5182. I am inclined to believe the index may not go higher than 5182 and the bears might get busy yet again. However, that is just an opinion and come what may, we must bow to the market's wisdom!

FTSE Outlook week commencing 09 Nov 09

FTSE dropped last week as we expected though it fell short of the target by about 30 points. A good bounce followed. But we are back at a point where the index might encounter resistance (around 5165). If it blasts through 5165 upwards, 5220 might be a potential target. With the situation being a bit unclear, best to wait and see what the market's intentions are.

NIFTY Outlook week commencing 09 Nov 2009

The bears certainly had a good time. As expected, the index fell to the level we had projected and in fact, a bit further. A sharp bounce followed. Question now is - where next? If the bounce continues, we could well be looking at 4935 as an upside target. A further target of 5181.95 is not impossible. And if and when it gets there, watch out for the possibility of a double-top. Good luck!

FTSE Outlook week commencing 1 Nov 09

Hmmmmmm...news comes out that the US is "out of recession." How does the market greet that announcement? By dropping significantly!

FTSE could drop a bit more this week - probably about 100 points before it finds support around 4955. If it fails to stop there...the lower line of the brown channel will be waiting! Good luck with your trades.