WEEKLY ANALYSIS:

RES:5344-5380-5415
SUP:5265-5235-5207

THIS WEEK NIFTY IS EXPECTED TO OPEN WITH POSITIVE BIAS AND MAY TRADE IN SHORT RANGE BEFORE BIG COMPANIES START DECLARING THEIR ANNUAL RESULTS FROM WEEK STARTING 12TH APRIL.FIIS ARE BUYING HEAVILY SINCE 1ST WEEK OF MARCH AND DIIS AFTER FIN YEAR ENDED ON 31ST MARCH MAY START SOME BUYING AGAIN.SO DONT EXPECT MARKETS TO SHOW ANY BIG CORRECTION TILL FII CHANGE THEIR STANCE OR SOME GLOBAL NEWS DRAG DOWN MARKETS.

SINCE LAST 2 DAYS BUYING WAS SEEN IN SMALL CAP AND PENNY STOCKS WHICH INDICATE SMALL RETAIL INVESTORS MAY HAVE STARTED TO TAKE INTEREST AGAIN IN MARKETS.FEELING OF MISSING THE RUNNING TRAIN THEY WILL BUY ON EVERY DIPS AS THEY HAVE NOT TAKEN PART IN THIS RALLY FROM 2250 AND OPERATORS MAY KEEP MARKETS MOVING UP SLOWLY TO TRAP MORE RETAIL INVESTORS BEFORE THEY START DISTRIBUTION.

NIFTY 5200PE AND 5400 CE HAVE HIGHEST O.I INDICATING RANGE OF 5200-5400 IN COMING DAYS,IF NIFTY (CLOSING LEVELS)BREAKS BELOW 5160OR BREAKS ABOVE 5440 MAY SEE FAST MOVE IN THAT DIRECTION FOR 200-240 POINTS IN QUICK TIME.

AFTER RISING SUCCESSIVELY FOR LAST EIGHT WEEKS(A FIBO NUMBER) MAY SEE SOME CORRECTION IN LATER PART OF WEEK,BUT IF ENDS IN GREEN WITHOUT CLOSING BELOW 5265 ANYDAY THIS WEEK MAY SEE SOME UNEXPECTED UPMOVE IN NIFTY IN COMING DAYS.

THIS WEEK NIFTY MAY FACE INITIAL RESISTANCE NEAR 5344 LEVELS,AND IF BREAKS AND SUSTAINS ABOVE THAT MAY TEST LEVELS OF 5366-74 PTS WHERE A RISKY SHORT CAN BE CREATED WITH SL ABOVE 5390 FOR TARGETS 5330-5290-5265,MAY EVEN TEST 5235 INTRADAY AGAIN WHERE NIFTY CAN BE BOUGHT WITH SL BELOW 5205.IF BREAKS AND SUSTAINS ABOVE 5398 THEN NIFTY CAN TEST 5410-5420 LEVELS THIS WEEK

THIS WEEK NIFTY MAY CORRECT ANYDAY UPTO 5235 LEVELS INTRADAY WHICH AGAIN WILL GIVE GOOD OPPORTUNITY TO GO LONG.TILL IT DOES NOT CLOSE BELOW 5265 ANYDAY NIFTY IS BUY ON EVERY DIPS FOR TARGETS NEAR 5450+/-20 PTS.NIFTY SHALL BE SHORTED ONLY IF NIFTY TRADES BELOW 5222 FOR TRGTS 5205-5183-5160 WHERE AGAIN HUGE BUYING IS EXPECTED.POSITIONAL SHORTS ARE ADVICED ONLY IF CLOSES BELOW 5183 FOR 2 SUCCESSIVE DAYS.

FOR NEXT 2 WEEKS IT IS ADVICED TO STRICTLY TRADE WITH STRICT SL AS NEXT 2 WEEKS MAY SEE NEW TREND EMERGING..BULLISH OR BEARISH...ONLY MARKETS WILL SPEAK