NIFTY THIS WEEK

NIFTY THIS WEEK

This week nifty traded in a wide range with positive bias and closed just below the 6000 levels. Volume was low compared to previous week volume. FII’s were net buyers for all long week. This week nifty was able to stay above the 20 EMA and 50 EMA.

DOW JONES

This week Dow had traded in a wide range with positive bias and managed to close above the crucial 11,100 levels. Volume was increased compared to previous week. This week it had also tested the important levels 11,380.

NIFTY NEXT WEEK

As FII’s were remained net buyers all long last week we may expect an up move come week. In September month nifty had surged around 700 points without any correction in those weeks. In November it had plunged almost 600 points without any pull back in those weeks. Roughly more than 85% market had retraced. Based on this I expect nifty to trade in positive region come week. However global cues should not be ruled out.

The 6100 levels would be crucial level to be watched for come week. Would it able to sustain above this level we may see new highs in ensuing week.

The 5830 levels would be crucial levels to be watched below this nifty may weaken. At 5640 levels the major support exists. My bias would be positive for next week.

DOW JONES

As Dow had closed above the significant levels 11,100 with increased volume, we may expect an up move next week. The 11,380 levels would be a significant level to be watched and I feel it would be a gateway for further up move. As the unemployment had surged, fed may inject more money in the system to spur the economy growth. This would be positive for US market. In my perspective I expect Dow to trade above the 11,400 levels next week.

Let’s see what happens next week.

NIFTY TRADIN RANGE

FOR UP MOVE               5980    -   6250

FOR DOWN MOVE       5980     -   5640

NIFTY ON MONDAY

Global cues would lead the market on Monday. As FII’s were net buyers on Friday we may expect an up move on Monday. The 6020 and 5980 levels would be crucial levels to be watched on Monday. May bias would be positive. Let’s see what happens on Monday.

NIFTY TIPS

BUY ABOVE 6000 T1 – 6030, T2 – 6060, T3 – 6090 STOPLOSS – 5985

SELL BELOW 5985 T1 – 5955, T2 – 5925, T3 – 5895 STOPLOSS – 6000