NIFTY FUTURE ON 06/12/2010 - 10/12/2010 - WEEKLY TREND

LAST WEEK OUR MARKETS OPEN ON 5800 AND INTRA WEEK HIGH WAS 6038.90 AND THE  LOW WAS ON FRIDAY 5776.95 AND CLOSED ON 6016.75 HAVING WEEKLY LOSS OF 238 POINTS FORM THE PREVIOUS WEEK.

SO WHAT ABOUT THIS WEEK ?

NIFTY FUTURE ON 06/12/2010 - 10/12/2010 - WEEKLY TREND

OUR MARKETS HAVE A STORNG RESISTIENCE AT 6053 AND 6110 LEVELS THIS WEEK. IF IT IS BREACHED THEN MARKET MAY GO UP TO 6145 - 6205.

STRONG SUPPORTS ARE AT 5855 AND 5799 LEVELS IF IT IS BRACHED  MARKETS MAY GO TO 5714 - 5658 LEVELS.

ANY WAY THE TURNING POINT IS 5940 LEVELS ABOVE THIS POSITIVE BELOW THIS MARKETS ARE WEAK.

MARKET CHOPPY ON MONDAY - GLOBEL CUES ARE GREEN THEN MARKET HARDLY GOES UPWARDS. IF BRACHING OF 6053 ( IT IS HARD ) THEN NEXT TARGET IS 6110 . SHORT TERM IS IN POSITIVE NOW TESTING THE RESISTENCE LEVELS - BUT LONG TERM CHARTS SHOWS NEGATIVE SIGNALS. SO MARKETS DOWNSIDE WITH VOLATAIL MOVEMENTS I THINK.