NIFTY FUTURE ON 15/11/2010 - 19/11/2010 - WEEKLY TREND

LAST WEEK OUR MARKETS OPEN ON 6339.70 AND INTRA WEEK HIGH WAS 6347 AND  LOW WAS ON FRIDAY 6074  AND CLOSED ON 6391.55 HAVING WEEKLY LOSS OF 233 POINTS FORM THE PREVIOUS WEEK.

LAST WEEK WHAT WE SAY IS STORONG RESISTENCE IS AT 6349 LEVELS IT IS NOT BRACHED EVENTHOUGH IT IS OPEN ON 6339.70 LEVELS, SO SELLING IS CONFORMED ON THAT WEEK, THEN WHAT WE TOLD ABOUT DOWNSIDE  IF IT IS BREAKS A TURNING POINT LEVEL OF 6213 THEN GREAT FALL UP TO 6090 LEVELS WHERE THE 3 LITTLE GAPS BETWEEN THERE, SO NIFTY FILL ALL THE GAPS AND CLOSED ON THE SAME LEVEL WHAT WE TOLD. IT IS A LITTLE MATTER OF OUR EXCELLANCE.


SO WHAT ABOUT THIS WEEK ?

NIFTY FUTURE ON 15/11/2010 - 19/11/2010 - WEEKLY TREND

OUR MARKETS HAVE A STORNG RESISTIENCE AT 6135 AND 6188 LEVELS THIS WEEK. IF IT IS BREACHED THEN MARKET MAY GO UP TO 6268 - 6328.

STRONG SUPPORTS ARE AT 6057 AND 5970 LEVELS IF IT IS BRACHED  MARKETS MAY GO TO 6949 - 5896 LEVELS.

ANY WAY THE TURNING POINT IS 6063 LEVELS ABOVE THIS POSITIVE BELOW THIS MARKETS ARE WEAK.

THIS WEEK MONDAY MAY A CHOPPY MARKET FROM THAT LOW MARKETS TURN BACK OR OTHERWISE MARKETS GO DOWNSIDE BUT I THINK 5970 LEVELS IS NOT BREACHED IT IS A HEAVY SUPPORT AREA AND ALSO GAPS ARE FILLED SO MARKET MAY BE GO UP SIDE IF GLOBEL MARKETS ARE IN GREEN. BUT THERE IS A POSSIBLITY OF DOWN SIDE ALSO IF IT IS BREACHED THAT 5970.