NIFTY - weekly out look.

* Nifty can be bearish till it does not hit 5206 in this week.

*For time being, down trend has weakened.

*On eod 50DMA = 5013.68(sloping down), 100DMA = 5008.07, 200DMA = 4744.18

*Weekly RSI14 is 52.53, and LBB (20,2) is 4681.65, one can buy in panic near this level.

*Weekly 20SMA is 4999.95, which could have been one of the reason of resistance on last Friday's budget day. (Another reason could be - on daily chart, it moved far beyond UBB, with RSI-14 near 50mark.)

* Weekly floor pivot is 4915.82, be cautious with shorts above it and with longs below it.

*If nifty does not breach 4755, then nifty can go upto 5184 in March.

I will be off for next week.

Nifty - weekly outlook.

Weekly pivot - 4894.58
5ema on weekly chart - 5053.41
Nifty can take support near 4747.20.
Failing to do so can lead the fall towards 4624.88.
20 week MA is 5030.60. Bulls can give a try to get weekly closing above it.
To resume the uptrend in next week, nifty needs to go above 5311.00
Weekly trend has become bearish.
There can be very volatile movement in next week.

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.

GOLD point & figure 60 min.

GOLD point & figure chart 60min and daily.

Gold 60 min giving break out !In International market can hit US $ 1168 odd levels very soon.

Gold daily point & figure chart.

I expect Indian gold mini feb contract to hit 17,224.00 soon.