Weekly Nifty Analysis for the week 13/12/2010-17/12/2010 :
After a crack upto 5740 levels, Smart recovery was witnessed due to decent IIP nos.
Expect Further Upmove in medium term if 5780 is held.
Nifty Fut will face stiff resistance at 5978-5994 levels crossing & sustaining above which, it may touch 6090 & 6174.
But, If fails to cross & sustain abv 5994, Will be in a trading range 5784-5994.
Strong support lies at 5790-5804.
Only if it breaks & closes below 5784, it may touch 5665 & 5543..
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.
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