NIFTY FUTURE ON 22/11/2010 - 26/11/2010 - WEEKLY TREND

LAST WEEK OUR MARKETS OPEN ON 6089 AND INTRA WEEK HIGH WAS 6148.85 ON THE SAME DAY AND  LOW WAS ON FRIDAY 5860.05 AND CLOSED ON 5890.15 HAVING WEEKLY LOSS OF 199 POINTS FORM THE PREVIOUS WEEK.

LAST WEEK WHAT WE SAY WAS OF THE DOUBLE BOTTOM AT 5975 IS BREACHED THEN IT  MAY BE A NECKLINE OF HEAD AND SHOULDER IT MAY GO UP TO 5600.



SO WHAT ABOUT THIS WEEK ?

NIFTY FUTURE ON 22/11/2010 - 26/11/2010 - WEEKLY TREND

OUR MARKETS HAVE A STORNG RESISTIENCE AT 5944 AND 6000 LEVELS THIS WEEK. IF IT IS BREACHED THEN MARKET MAY GO UP TO 6085 - 6148.

STRONG SUPPORTS ARE AT 5748 AND 5691 LEVELS IF IT IS BRACHED  MARKETS MAY GO TO 5656 - 5593 LEVELS.

ANY WAY THE TURNING POINT IS 5860 LEVELS ABOVE THIS POSITIVE BELOW THIS MARKETS ARE WEAK.

THIS WEEK WE EXPECT THIS 5600 LEVELS BUT IN CLOSING OF F&O ON 25th THIS WEEK 24th OR 26th WE EXPECT MARKET IN GREEN. SO IT MAY BE BEFORE CLOSE MAY BE AT WEDNESSDAY WE EXPECT THIS LEVEL.