NIFTY FUTURES HAS CLOSED AT 4381.50
""""""4416 IS THE 1st WEEKLY RESISTANCE FOR THE NIFTY FUTURES"""""""
ABOVE 4416 NIFTY HAS A MAJOR RESISTANCE AT 4457.
FOR THE COMING WEEK IF NIFTY FUTURES HAS TO MAKE AN UPMOVE IT FIRST HAS TO CLOSE ABOVE 4457.
TILL NIFTY FUTURES DOES NOT GIVE A CLOSE ABOVE 4457 WE WILL NOT SEE FURTHER UPMOVE.
THE 1st LEG OF AN UPMOVE EXHAUSTS AT 4457.
""""""THE 2nd LEG OF UPMOVE WILL BEGIN ABOVE 4457 ONLY"""""""
ABOVE 4457 IMMEDIATE HURDLE IS PEGGED AT 4488 – 4519 – 4551.
THE 2nd LEG OF UPMOVE GETS OVER AT 4551.
TECHNICALLY ON A WEEKLY BASIS A BULL RUN IS SEEN UP TO THE 2nd LEG ONLY.
""""""AT THE 2nd LEG THE BULL RUN IS SUPPOSED TO EXHAUST""""""
4551 IS A VERY HUGE OBSTACLE AND NIFTY FUTURES IS VERY MUCH LIKELY TO REVESE FROM THIS ZONE.
FOR FURTHER UP MOVE OR FOR THE START OF A 3rd LEG NIFTY FUTURES WILL HAVE TO CLOSE ABOVE 4551 ZONE.
WEEKLY DOWNWARD VIEW OF NIFTY FUTURES
4333 IS THE 1st WEEKLY SUPPORT FOR NIFTY FUTURES
BULLS WILL REMAIN ACTIVE TILL 4333 REMAINS INTACT ON THE DOWNSIDE.
A CRACK AT 4333 WILL TAKE NIFTY FUTURES TO 4300
4300 IS THE 1st BOUNCE BACK REGION FOR NIFTY FUTURES.
FAILURE TO HIT BACK FROM 4300 WILL TAKE NIFTY FUTURES TO 4272 – 4250
""""""4250 HAPPENS TO BE A CRUCIAL SUPPORT BECAUSE IT COINCIDES WITH THE LOW OF FRIDAY THAT WAS 4256 & THE 50 DMA IS ALSO PLACED AT 4250 REGION""""""
CRACK AT 4250 WILL TAKE NIFTY FUTURES TO 4211.
2nd WEEKLY BOUNCE BACK REGION IS PLACED AT 4211.
BREACH OF 4211 & NIFTY FUTURES CAN SLIP DOWN FURTHER TO 4182 – 4150 – 4126.
3rd & THE LAST WEEKLY BOUNCE BACK REGION IS PLACED AT 4126.
CRACK AT 4126 AND NIFTY FUTURES HAS LAST HOPE AT 4094.
"""""4094 STANDS CRUCIAL AND IN ANY CASE IT SHOULDN’T BE BROKEN""""""
THE LOW OF 3905 MADE ON 13-07-09 WILL NOT BE CRACKED TILL 4094 IS NEVER BREACHED. IF THE 4094 REGION IS CRACKED ON A CLOSING BASIS THEN THERE ARE NO HOPES THAT THE SUPPORT OF 3905 WILL REMAIN SAFE.
HAVE A NICE TRADING SESSION FOR THE WEEK.
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