ON 31/05/2010 - 04/06/2010 - WEEKLY OUT LOOK - SELL AT EVERY HIGH

THIS WEEK WE HAVE FIRST ONE OR TWO DAYS MARKET MOVES TO HIGH LEVELS,  AFTER THAT WE HAVE DOWN SIDE MOVE, BECAUSE OF SHORT - TERM TREND IS UP. BUT LONG TERM TREND IS IN DOWN SIDE - SO IN EVERY HIGH BOOK PROFIT.

THERE IS A STRONG SUPPORT AT 4951 LEVELS SO ABOVE THIS LEVEL MARKETS ARE POSITVE. 

IF THIS LEVEL IS BREACHED THEN IT MAY BE GO UP TO 4888 THE NEXT SUPPORT. IT IS ALSO BREACHED THEN SHORT TERM TREND ALSO CAME DOWN SIDE.

UP SIDE NIFTY MOVE UP TO 5156 IF THE STORNG RESISTENCE AT 5109 LEVELS IS BREACHED.

I THINK BEYOND THIS LIMIT  NIFTY MAY NOT MOVE UPSIDE. IF IT MOVE ABOVE THIS 5156 IN CLOSING BASIS, THEN LONG TREM TREND ALSO UP. BUT THERE IS A VERY MINIMUM POSSIBLITY FOR THIS.

SO WE DO THREE THING IN MARKET IN THIS WEEK,

BOOK PROFIT IN HIGH LEVELS, 
 
DO NOT TAKE DELIVERY POSITION,
 
MAY GO SHORT IN FUTURES.