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Nifty view for week of 6 June- 10 June 2011

Saturday, June 4, 2011 | | |


Nifty 30 May-3 June 1
Nifty was bottom out on 5340. You can read about rally in my article of What will Nifty June 20011? . As per this article Nifty is not able to breach level of 5320. So this rally were of short covering in market last week.
In last week Nifty make move of 5450-5600. Nifty try to break level of 5600, but slips as pressure of profit booking. In last session of last week Nifty breaks 5600 for movement, from there huge selling is occur due to last day of week.
In coming week as per above graph some prediction are as below;
In graph we are plotting parallel trend line. If Nifty opens above 5565, then only there is a chance to bull rally in market in short time view. If Nifty able to close above 5600 level then momentum of Nifty will convert to positive form negative.
If this not occurs, then grip of BEAR becomes strong.
Hope this little article helps you to earn money in Indian stock market.

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