Sunday, June 20, 2010

NIFTY - Weekly outlook.

* Nifty is riding up along with Upper Bollinger Bands on daily charts.

* On Thursady, 17-06-10 RSI 2period on daily chart was 98.85, which could be one of the reason of correction on Friday. SS giving sell signal on daily charts which can be ignored.

* We may see a weak opening of the week, which can lure bears to short, but NO SHORTS AT THIS POINT OF TIME.

* One can open fresh longs near 5185 levels, with stop below 5150, with target of about 5335.

* Closing below 5150, can take away further 100 points down.