Nifty - weekly outlook.

*Nifty futures respected last week's strong resistance level of 5309.21.

*Weekly Pivot for nifty is 5254.27. Can add more longs above this level. Be cautious with longs below this. Any fresh shorting below 5254.27, needs the stop loss above 5273.00

*Immediate upside target for Nifty spot can be 5347.55.

*Strong weekly resistance can be 5360.97.

*Dow looks weaker. Under any global jitters, nifty is unlikely to break 5179.83 in March.

*Nifty has made a hanging man candle on weekly chart and overbought status on EOD chart can be tempting factor for shorting. But overall situation is such that, nifty is buy on dips.

*For Monday, if any one is overnight short, 5303.96 spot can be the stop loss.

NIFTY - Expiry week, beware of volatality.

• As mentioned earlier, there can be a throw back, which will be good buying opportunity.
• Weekly pivot - 5211.38, Support - 5152.68. If weekly closing is below 5152.68, it can be a concern for the bulls. But any correction upto 5042.67 can be a very good buying opportunity.
• 5309.21 can be a very strong resistance for this week. Above this, nifty can be very very bullish.
• There can be gap down on Monday at 5216.39 level.
• Expiry can be between 5150 to 5200.
  

Nifty goes beyond 5184 !

Today nifty escapes the narrow range ! Thanks to Reliance. Reliance also crossed its one of the resistance near 1050 level. Nifty peaking out of the rising wedge. There can be a throw back, which will be a good buying opportunity for the left outs.

Will nifty go beyond 5184?

* Weekly floor pivot is 5129.05.

*20SMA of 6month, 1month, weekly, daily and even 30min chart is sloping up. (This makes me more bullish on NIFTY)

*Any correction up to 5002 (20week SMA) can be a golden dip for buying.

*5169.55 will be the first hurdle on upside.

*If in near future 5310.85 is taken out, then nifty can get the target of roughly around 5940.

*Fibonacci retracement levels of the recent correction from 5310.85 to 4675.40 are given below.

0.00%	4,675.40
23.60%	4,825.37
38.20%	4,918.14
50%	4,993.13
61.80%	5,068.11
76.40%	5,160.88
100%	5,310.85