NIFTY NEXT WEEK [19/04/10 – 23/04/10]
Still FII’s remain net buyers is the positive news for the market. Until they turn net sellers we may not see any big downside move I feel so. For next week 5275 levels would be the gateway for both the upside or downside direction. Would nifty able to sustain above this levels then we can say that the bulls are intact.
Technically in the price chart an indecisive pattern had formed. So in my observation, we need some more confirmation to arrive at conclusion on nifty direction. In my sense we may see again a tight range trade with positive bias next week. To my knowledge there is no negative news from the domestic side. Again 5275 levels would be the important level to watch out for. Let us see market pans out next week.
NIFTY TRADING RANGE
For up move 5275 – 5427
For down move 5275 – 5140
NIFTY TIPS
LEVELS FOR MONDAY
BUY ABOVE 5285 T1 – 5303, T2 – 5327 STOPLOSS – 5272
SELL BELOW 5275 T1 – 5255, T2 – 5235 STOPLOSS – 5285
Thanks for visiting!