Weekly Nifty Outlook (01/11/2010 - 05/11/2010)

Weekly Nifty Outlook for the week 01/11/2010 - 05/11/2010 :

Stay Bullish on Nifty Fut for medium term till 6030 is held.
Nifty Fut will face stiff resistance at 6179-6198 levels crossing & sustaining above
which, it will touch 6279 & 6356.
But, If fails to cross & 6198, Will be in a trading range 5910-6198.
Strong support lies at 6045-6055. Only if it breaks & closes below 6030, it may touch 5943 & 5829.
Strategy should be to Buy on dips till it does not break 6030 & Short on Rises till
6198 is not crossed & sustained.

Caution : Nifty Fut Closing below 5930 will prove risky for holding stocks from a Delivery perspective. Reduce Volumes if 6030 is breached & sustained