NIFTY AS ON 24/12/2010

CALL SECTION ABOVE
Call Section Has Been Updated Please Check For Buy Calls ALSO LOOK FOR NIFTY 50 EOD CHARTS IN NIFTY LIVE CHARTS ABOVE

Nifty Is Trading In A Range Bound Movement Between 6069 – 5690 Within 379  Pts And The Range Is Narrowing Slowly And It Seems From The Friday Closing Session That Nifty Could Make Low High Of Between 6025 – 6045 As 6069 Is Stiff Resistance For Nifty Crossing And Closing Above The Same Could Change The Trend Of Nifty To Up For Higher Targets

But Looking At Weekly Charts Nifty Is Forming Higher High And Higher Low Formation Pattern Is Seen So Now Below 5690 Weekly Shall Be In Down Trend

Also Nifty Has Taken Support At 62 % Retracement Levels Of The Rally From 5348 – 6338 And So Now If 5690 If Breached Nifty Can Fall Till 5453 Levels To 5075 Levels

Also Now We Are At The Upper Range Of Range Bound Market Which Is At 6069 So Now If Nifty Is Not Able To Move And Close Above 6069 Levels We Can Create Short And If Sustains Above 6069 Levels We Can Go Long So Now Next Week Shall Become Trend Decider As Swing Shall Also Become Up Above This Levels

Now Levels For The Week Are

5888 – 6135

If Nifty Struggles To Cross 6040 – 6050 Levels Take  Short In The Range Of 6040 – 6060 With Sl Of 6085 For Tgt Of 5950 – 5940 – 5888

And Breakout Shall Be Above 6085 Levels Only

Long Above 6085 For Tgt Of 6135 And Above