Weekly Nifty Analysis for the week 22/11/2010 - 26/11/2010 :
Nifty has broken its medium term Support of 5930 & Volume Based Selling was witnessed. Small Pullback rally MAYBE witnessed after a 475 point cut in Nifty in last 2 weeks. But it might Just be a PullBack & not a Bull Back.
Nifty Fut will face stiff resistance at 5994-6014 levels crossing & sustaining above which, it may touch 6084 & 6141.
But, If fails to cross & 6014, Will be in a trading range 5819-6014.
Strong support lies at 5920-5828.
Only if it breaks & closes below 5819, it may touch 5738 & 5665.
Be quick in your Trades as Movements are expected to be very spiky & Trade with Stricter SL. When in Profits, Either book Gains or Keep Trailing with a revised SL in order to maximize gains & reduce Risk Factor.
Regards, Team Market View Investments.
9987750901.
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