ON 3rd - 7th JAN FIRST WEEK OF THE YEAR - NIFTY FUTURE LEVELS

LAST WEEK OUR MARKETS OPEN ON 6039.95 HIGH  ON FRIDAY  6182 AND THE  LOW  WAS  5997.1 AND CLOSED ON 6162.55 HAVING WEEKLY GAIN OF 125 POINTS FORM THE PREVIOUS WEEK.

SO WHAT ABOUT THIS WEEK ?

NIFTY FUTURE ON 03/01/2011 - 07/01/2011 - WEEKLY TREND

OUR MARKETS HAVE A STORNG RESISTIENCE AT 6190 AND 6220 LEVELS THIS WEEK. IF IT IS BREACHED THEN MARKET MAY GO UP TO 6280.

STRONG SUPPORTS ARE AT 6075 AND 6040 LEVELS IF IT IS BRACHED  MARKETS MAY GO TO 5920  LEVELS.

ANY WAY THE TURNING POINT IS 6125 LEVELS ABOVE THIS POSITIVE BELOW THIS MARKETS ARE WEAK.

OUR MARKET IS NO ON CRUCIAL STAGE I THINK BECAUSE IN MONTHLY  CHARTS OUR MARKET LOOKING IN THE DOUBLE TOP FORMATION  SO 6040 BREACHES THEN HEAVY FALL WILL OCCURE.

BUT IT MANAGES TO CAME UP  ABOVE 6220 LEVELS THEN IT MAY GO TO NEW HIGHS. BUT IT IS NOT POSSIBLE I THINK - WAVE THEORY CONFIRM THIS.

THIS IS THE FIRST WEEK OF THE NEW DECADE AND THE YEAR SO WE WHERE ONLY AT NUTURAL STAGE IF MARKET IS CHOPPY THIS WEEK THEN NEXT WEEK FALL CONFORM.