The short term trend deciding level is 20371. One
can buy on declines
As long as 20370 holds. The sensex can attempt to
move higher to
21300, and 22540. The short term outlook will turn negative
if the
Index closes below 20000. The medium term outlook
for the index
turned positive when the index reversed from low of
17449. We will
Stick to the target of 21300 & 22540 till 19950
holds.
The NIFTY recorded an intra week high of 6252. Key
support for the
Week is 6045. The support below 6045 are placed at 5980
& 5917.
The short term trend will reverse lower only on a
close below 5917.
If the nifty manages to hold 6045 next week then it
can rally up to
6252, 6340, & 6385. The medium term trend will
not be threatened
till NIFTY goes below 5800.
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