Mktviews Weekly Nifty Analysis (11/07/2011-15/07/2011)

Markets seems to have halted its upmove around 5750 levels (200 DMA) as it displayed its reluctance to cross & close above it on Last 2 days. Hence Selling pressure could be witnessed on all rises & We can expect Nifty to oscillate between 5500-5800 range as highest Open Interest is built up in  5500 Put Option & 5800 Call Option.
Prefer Reducing Longs on rises till Nifty Fut does not cross & close above 5785.
Further Triggers could be provided by Results of Large Cap Companies i.e Infosys & TCS along with IIP nos to be announced on Tuesday.

Going Forward,
Nifty Fut will face stiff resistance @ 5766-5785 levels crossing & closing abv which further Momentum would lead to 5935.
But, If fails to cross & sustain abv 5785, Will be in a trading range 5506-5745.
Strong support lies @ 5535-5785.
If breaks & closes below 5535, it may touch 5415 & 5304.

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Team Market View Investments.
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