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Nifty Weekly View
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Report date : 13/06/2010


Nifty fut Hurdle 5140
Resistance 5220-5310
Support 5038 4937
It was an flat week for the market which saw a lot of ups and down but traded mostly within a narrow range throughout. Global cues were mixed and this had an effect on our market, too. This week's performance was below average and the numbers are: Sensex down 0.4% and Nifty also down 0.4%. BSE Realty index down 4.4%, BSE Consumer Durables index down 1.8%, BSE Metal index down 2.8%, BSE IT index down 2.5% and BSE Auto index up 1.4%.

Friday session was a reasonably good day for the Indian market which opened gap-up and stayed in positive terrain throughout. Global cues were okay and strong IIP data for April helped the market trade higher. Most frontline stocks traded with gains and oil & gas and banking witnessed buying interest. Sensex closed at 17064, up 142 points and Nifty at 5119, up 40 points from the previous close. CNX Midcap index was up 0.2% and BSE Smallcap index was up 0.4%. The market breadth was positive with advances at 687 against declines of 578 on the NSE. Top Nifty gainers were BHEL, RIL and Siemens while losers included Unitech, Bharti Airtel and BPCL.

Now week ahead Nifty fut will face resistance at 5140 from graph we can see a accending traingle formation two close above 5140 expect nifty fut to go to 5220-5310 on downside support at 5038 once break below this level nifty fut will slide to 4937 below this expect a sharper deeper cut. More details to online subscribers
Nifty weekly view


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