WEEKLY ANALYSIS:

RES:5311-5336-5360
SUP:5252-5220-5183

NEXT WEEK NIFTY MAY OPEN FLAT AND MAY TRADE IN 5336-5183 RANGE WITH SOME CHOPPY DAYS OF LOW RANGE.
NIFTY HAVE COMPLETED SEVEN WEEKS OF CONTINUOUS UPMOVE (MAKING HIGHER HIGHS)FROM LOWS OF 4675,AND COMING WEEK MAY ALSO SEE NIFTY MAKING HIGHER HIGH THUS MAKING IT 8TH CONSECUTIVE WEEK WHICH IS A FIBO NUMBER AND MARKS FOR SOME CAUTION AHEAD.

NEXT WEEK NIFTY HAS STRONG SUPPORT IN 5220-5235 RANGE,IF BREAKS BELOW THAT NS HAS VERY STRONG SUPPORT AT 5198-5183 RANGE..NIFTY
HAS INITIAL RESISTANCE AT PREVIOUS HIGHS OF 5211 AND ABOVE THAT IF SUSTAINS MAY SEE NIFTY GETTING RESISTANCE IN 5336-5353 RANGE

NEXT WEEK BUY NIFTY NEAR LOWS AT 5200-5210 WITH SL BELOW 5150 FOR TGTS 5280 AND SELL NIFTY IN 5320-5340 RANGE WITH SL ABV 5376..INTRADAY TRADERS MAY NOT GET MANY OPPORTUNIYIES AS NIFTY IS EXPECTED TO TRADE VERY CHOPPY AND IN SMALL RANGES ON SOME DAYS..

TILL NIFTY DOES NOT CLOSE BELOW 5169 FOR TWO CONSECUTIVE DAYS ITS BUY ON EVERY DIPS AND ALSO DAILY INDICATORS SHOWING SOME NEGATIVE DIVERGENCES AND OVERBOUGHT STAGE CALLS FOR CAUTION AT HIGHS.