02-08-2010 to 06-08-2010, WEEKLY TREND

I expect NIFTY SPOT to trade rangebound. New series started with light OI indicating traders are not confident about further up move. NIFTY SPOT will face R 5410-5420, 5440-50. I will prefer to watch 5440-50 levels for further up move. Failed to cross these levels will attract fresh shorts in market. On contrary sustainable up move above these levels will open door for fresh up move which looks difficult in current situation. On up side, NIFTY SPOT strong R 5480-90. NIFTY SPOT will take S 5280-90. Break below 5270 levels will warn about possible correction. NIFTY SPOT strong S 5220-30 for next week. Stock specific action will remain in market.


Saturday, July 10, 2010

12-07-2010 to 16-07-2010, WEEKLY OUTLOOK

I expect NIFTY SPOT to show up move next week. Now focus would be shifted to stock specific.
I expect NIFTY SPOT will try to touch 5410-20,
5460-70 levels.
Above 5480, next TGT will be 5520-30 levels. Profit booking expected here. On down side NIFTY SPOT minor S 5320-30 and 5290-5300 levels.
Trade below 5280 levels will warn about unwinding for TGTs 5230-40, 5190-5200 which looks difficult in current situation.
I will prefer to watch sectors like REALITY and METAL which having positional shorts. Major covering expected in these sectors.
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