NIFTY FRIDAY
Nifty closed above 5300 levels. Market breath was negative with 23 advances and 26 declines. Volume was low compared to previous trading session. FII’s were net buyers for 339.3 crores. DII’s were net buyers for 29.09 crores.

NIFTY THIS WEEK [19/04/10 – 23/04/10]
This week nifty traded in a tight range and managed to stay above the 50 EMA & 20 EMA. It had also able to surpass the significant level 5275. FII’s sold for 900-odd crores and bought for 940-odd crores. This week volume was good comparing to previous week. Nifty had retraced nearly 50% from the level what it had lost over 5 trading session. It had good support around 5200 levels and strongly resisted around 5330 levels. This week expected results and decisions had beaten the street expectations which are positive for markets. Let’s see what happens next week.

NIFTY NEXT WEEK [26/04/10 – 30/04/10]
Only, would nifty able to sustain above 5383 levels we may see further up move. For next week 5327 and 5275 levels would be a crucial level to be watched and 5383 levels would be a hard resistant to surpass. To my knowledge, as we had seen most awaited results and which had turned to be positive for the market, this week we may see a mild upward rally. In my sense I feel still FII’s buying spirit is intact. Until FII’s turn huge sellers, our worry about downtrend is needless. To my understanding what ever we had seen for the last two weeks may be a pull back rally in an uptrend and I hope the trend would continue. Let’s see what happens next week.
NIFTY TRADING RANGE
FOR UPMOVE 5330 - 5620
FOR DOWN MOVE 5300 – 5100

NIFTY LEVELS FOR MONDAY [26/04/10]
Nevertheless the up move, for past two trading session the market breath was negative; this should not be overlooked. In my perspective we may see a tight trading range on Monday with positive bias. 5327 and 5275 level would be crucial levels for nifty.
NIFTY TIPS
BUY ABOVE 5330 T1 – 5355, T2 – 5383, T3 – 5427 STOPLOSS – 5310
SELL BELOW 5305 T1 – 5280, T2 – 5255 T3 – 5221 STOPLOSS – 5320
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