Nifty Weekly Review
Last week, Nifty ended up gaining 75 points against the backdrop of a loss of 200 points in the previous week. During the week, Nifty registered a high of 5034 and a low of 4759, forming a range of about 270 points.
Last week also saw the expiry of the Sept 2011 series, amidst high volatility. The whipsaw does not look like slowing down and we presume that the market will witness wild swings during the forthcoming week.
In the above chart, MACD is showing decline on weekly basis, whereas Bollinger Bands suggest that the fall will be limited in the immediate future.
For the next week, we will be looking at 4850 as the support area and 5030 as a resistance area for the Nifty.
We somehow need to tame this whipsaw, and having an open mind before the trading session and believing that the Nifty can go wild will get us there.
Happy Trading.
Bulls for the Next Week :
BAJAJELEC CMAHENDRA IDEA INVENTURE MPHASIS POWERGRID RSSOFTWARE SATYAMCOMP SELAN VARDMNPOLY
Bears for the Next Week :
COREEDUTEC DEEPIND GREENPLY HEG HITACHIHOM HOVS LAOPALA MANDHANA ONMOBILE RAJPALAYAM SMSPHARMA SOBHA UBENGG WOCKPHARMA
For cash market recommendations see our Daily Pre Market calls on NSE
Last week, Nifty ended up gaining 75 points against the backdrop of a loss of 200 points in the previous week. During the week, Nifty registered a high of 5034 and a low of 4759, forming a range of about 270 points.
Last week also saw the expiry of the Sept 2011 series, amidst high volatility. The whipsaw does not look like slowing down and we presume that the market will witness wild swings during the forthcoming week.
In the above chart, MACD is showing decline on weekly basis, whereas Bollinger Bands suggest that the fall will be limited in the immediate future.
For the next week, we will be looking at 4850 as the support area and 5030 as a resistance area for the Nifty.
We somehow need to tame this whipsaw, and having an open mind before the trading session and believing that the Nifty can go wild will get us there.
Happy Trading.
Bulls for the Next Week :
BAJAJELEC CMAHENDRA IDEA INVENTURE MPHASIS POWERGRID RSSOFTWARE SATYAMCOMP SELAN VARDMNPOLY
Bears for the Next Week :
COREEDUTEC DEEPIND GREENPLY HEG HITACHIHOM HOVS LAOPALA MANDHANA ONMOBILE RAJPALAYAM SMSPHARMA SOBHA UBENGG WOCKPHARMA
For cash market recommendations see our Daily Pre Market calls on NSE
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