WEEKLY ANALYSIS:

RES:5399-5428-5450
SUP:5340-5308-5291

THIS WEEK BEING A TRUNCATED WEEK AS 14TH APRIL BEING HOLIDAY AND BIG COMPANIES WILL START DECLARING THEIR QUARTERLY AND ANNUAL RESULTS FROM 14TH APRIL,STARTS WITH INFOSYS OBVIOUSLY MAY TRADE IN 5428-5320 RANGE WITH ALTERNATE DAYS OF GREEN AND RED DAYS.

NIFTY WILL FACE HUGE RESISTANCE NEAR 5428-5450 RANGE THIS WEEK IF TRADES AND SUSTAINS ABOVE 5399.IT MAY BE REWARDING TO GO SHORT NEAR 5420-5440 LEVELS WITH SL ABOVE 5484 AS ABOVE 5450 NIFTY MAY TRADE IN 5460-70 RANGE INTRADAY(BUT VERY REMOTE CHANCE).

THIS WEEK NIFTY HAS STRONG SUPPORT IN 5320-5308 RANGE WHICH BEARS MAY FIND DIFFICULT TO BREAK THIS WEEK WITH IMMEDITE SUPPORT AT 5345-53 RANGE.IF NIFTY COULD NOT BREAK BELOW 5345 THEN MAY TEST NEAR 5365 +/-5 POINTS.

NIFTY 5400CE AND 5200 PE HAVE HIGHEST O.I WITH AN ADDITION OF 17.5 LAKHS AND 9.8 LAKHS IN 5300 AND 5400PE RESPECTIVELY ON FRIDAY WHILE NIFTY 5300 AND 5400 CE SAW UNWINDING INDICATING BULLISH UNDERTONE .DOLLAR INDEX IS AGAIN IN CORRECTION MODE WITH STRONG SUPPORT NEAR 80.8 AND WILL HAVE NEGATIVE IMPACTS ON EQUITY AND COMMODITY MARKETS ONLY IF BREAKS ABOVE 82.8-83.1 LEVELS

BIG FUND HOUSES MAY KEEP NIFTY IN SMALL RANGE OF 5250-5450 FOR COMING TIME AND WILL PUMP MIDCAPS AND SMALL CAPS SO TO CREATE A BULLISH SENTIMENT AND LATER MAY DISTRIBUTE THEIR POSITION TO RETAIL. THE WAY LIQUIDITY IS PUMPED FROM FIIS(THOUGH THEY HAVE SLOWED DOWN THEIR BUYING PACE) EVERY DIP WILL BE BOUGHT BY THE FUNDS SITTING OUTSIDE WITH THEIR CUSTOMERS MONEY,WAITING TO ENTER AT LOWER LEVELS.

CAUTION POINTS:
1.SEBI IRDA DISPUTE
2.INFOSYS GUIDANCE AS RESULT WILL BE ALONG EXPECTED LINES
3.RBI WILL HIKE RATES ON 20TH APRIL
4.FED MEET
5.CRUDE IF TRADES ABOVE 90$