NIFTY 5800-6000 VERY SOON

IF WE SEE THE WEEKLY CHART OF THE NIFTY THEN  ONE CAN OBSERVE THAT BY JOINING THE BOTTOM OF 03/11/2009, 08/02/2010, 25/05/2010 WE ARE OBEYING A REGRESSION CHANNEL AND WE IN THE UPPER END OF REGRESSION CHANNEL.IF THE RALLY CONTIUES 5400 A MAJOR RESISTAND AND THEN WE SEE A GOOD RESISTANCE NEAR 5550 LEVEL (APPX.)AND AFTER THAT 5750. AS WE ALL KNOW ANY EQUITY MARKET REQUIRES THREE CONDITION TO GIVE RALLY- LOW INTEREST RATE , LOW INFLATION AND HIGH GROWTH. BUT TWO SITUATION INTEREST RATE AND INFLATION IN MY OPINION IS NOT STILL PROPERLY FACTORED IN. EVEN GLOBAL CUES FROM WHICH WE ARE NOT STILL DECOUPLE IS ALSO A BIG CONCERN LIKE CHINA BUBBLE, EURO DEBT PROBLEM. SO IF INFLATION NOT CONTROLLED THEN RBI IS BOUND TO HIKE RATES WHICH CAN HIT MARKET AND MARKET MAY GO AGAIN TO LOWER PART OF RANGE.YES TILL THE RANGE NOT BREAK WE CANNOT SEE NIFTY BELOW 4900 NEXT LOWER RANGE IF DOWN SIDE STARTED. IF RANGE BREAK THEN FURTHER DOWN SIDE POSSIBLE. FOR 5900-6000 LEVEL UPPER NEW RANGE 5550 SHOULD BE  BROKEN. AS PER DAILY CHART MARKET IS OVERBOUGT AS MANY  IMPORTANT INDICATOR SHOWS VOLATILITY IS HIGH IN MARKET AND MIGHT BE CORRECTION POSSIBLE WHICH CAN NIFTY UPTO 5214 (FIBONACCI OF LAST LEG) 1ST SUPPORT WHERE IT HAS ALREADY BOUNCE TODAY IF THAT BREAKS THEN WE CAN SEE LEVEL OF 5170 50 DAYS EMA SUPPORT AS PER CURRENT EMA, BELOW IT 5165(FIBONACCI OF LAST LEG),5145 ( FIBONACCI OF ENTIRE RALLY),5145, 5120. 5075, 5000 ARE IMPORTANT SUPPORT.
THERE IS NO DOUBT ABOUT INDIA STORY BUT IT WILL TAKE LITTLE TIME TO SUSTAIN AT HIGHER LEVEL AND AFTER MORE THAN 100 % APPRECIATION A CORRECTION UPTO 4200 IS REQD BEFORE MOVING AHEAD. I AM NOT SAYING THAT  NIFTY UPTO THAT LEVEL REACH AT THIS STAGE OF TIME. BUT UPTO 5150/5170 QUITE POSSIBLE IN NEAR TERM.
STUDY TILL TODAY.

Agree with Mr. Sen, Indian economy and market showing good strength from couple of days. Although the 5400 level of NIFTY is crucial for market in near term after this we have strong resistance. Maybe as per our expectation we will reach at 5900 level soon...