NIFTY FUTURE WEEKLY
To coincide with the FNO settlement last week, Nifty Future remained firm except on last Friday, when it receded a bit to leave a small upper shadow on the weekly candle. During the week, Nifty Future gave a range of 258 points (High 5702 & Low 5444) and closed at 5638.
I have uploaded two charts - Monthly chart for June 2011 & Quarterly chart for QE June 2011. These charts suggest possibility of upside till 5950. Considering that World markets are once again on an upswing and we will have quarterly results starting from around 10th July, we could see continuation of the up move once we manage to cross 5770.
In view of the small upper shadow on the previous weeks' candle, it is possible that we see some downside in the coming week - say up to 5470-5500 level next week before resuming the up move.
With Best Wishes,
Ketan Asher.
No comments:
Post a Comment