NIFTY - Weekly outlook.

* 5345 to 5365 is an important support level for this week.

* 5475 to 5500 can act as a resistance zone.

* 5356.90 is a Monthly Floor pivot.

* For forthcoming days, 5236.30 can be interesting level to be watched if we get weekly closing below 5356.90.

* Buy and hold in panic !

* Move above 5500 can bring in short covering.

NIFTY - weekly out look.

Great Bhalooji gave one level of Nifty long back, that is 5479 as a very important one. Despite of good rally in US market, nifty did not go above 5477.50. I was having overnight short position in Nifty, and still have short position. I added more short at gap up, and covered it at lower levels. Stop loss for pending short position is 5485 spot.

* Last week, 5345 was not breached. Nifty showed good bullishness.

* If the positive break out in Nifty is not a false one, Nifty can immediately hit 5499.87.

* If it is a false break out, Nifty can go down up to 5375.97.

NIFTY - Weekly outlook.

* 5184.92 is one of the support. If nifty does not respect this support, it can plunge upto 5060.12

* Move above 5320 can lead nifty upto 5391.63.

* Nifty looks bearish at this point of time. On 1st July, Thursday, at around 9.30am warning was posted in the shoutbox along with the chart link.

* In the post of 5th June 2010, fears of interest rate hike was posted. http://dharmeshtshah.blogspot.com/2010/06/global-jitters.html

gLOBAL Jitters !

* If 4815.56 is taken out, 5600 will be very difficult to achieve.


* If 5015.07 is taken out, nifty can rush towards 4894.63.


* Above 5176, nifty can give upswing up to 5230.


* News regarding interest rate hikes, can bring in negative effect to the market along with interest rate sensitives.

* If 5160.90, is not taken out nifty can go down up to 4173.25. Jaana tha Chin, pahunch gaye Japan.


* Intraday trading calls have been posted at http://indian-stock-pick.blogspot.com/

NIFTY - to test 4,863.23?

* Nifty breaking down the supports - can test 4863.23 eventually. ( The floor of the channel)

* If there is any bounce due to any positive surprises, avoid going long unless closing is above 5350.65 in this week. (Can be stop loss for positional shorts).

*RSI 5period of daily charts is 19.70, there can be pullback from lower Bollinger Band up to 20sma. If fails to close above 20sma, shorts need not worry.

*There can be intense selling below 5149.50 in this week.

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 - weekly out look.

Weekly Pivot - 5240.75

If nifty is not able to bounce back from 5181.00, it can test 5109.80. Panic situation can lead it towards 5050 levels.

On upside nifty has the resistance at 5288.71, 5311.95. Nifty can be very bullish above 5324.22. Above 5324.22, it can test 5371.70.

20 week moving average is 5010.00.

Nifty can continue its uptrend till it is above 5812.00 in this week.

NIFTY - 5min, hourly, eod, weekly, fibonacci level charts.

Nifty Weekly, EOD and 60min charts