Nifty P&F (Wk 0107-0507) - resistance 5890 / 5980, long cautious till 6000

Recap:

Reversed 1 point above 5540.

Weekly Analysis:

Daily Analysis:

Summary

Weekly paused, Daily Up. In Daily chart, an important zone of resistance BrRL & 50%Fib @5890 level. If it breaks past 5890 level next resistance will be again 2 BrRL & 62%Fib @5980 level.

One needs to be extremely cautious when long still 6000 is captured past.

Nifty P&F (Wk 2406-2806) - Support 5515-5540, daily VPO 5400

Recap:

As expected downtrend continues.

Weekly Analysis:

Daily Analysis:

Summary:

Weekly & Daily DOWN. The downtrend continues, immediate support FibExt2.62 & BlSL in weekly chart @ 5515-5540. The daily VPO stands revised to 5400 (my previous calculation had a point mistake).

Weekly column of "O" continues will perhaps stop at 5540 / 5400, subsequently it will determine the weekly VPO which will be really grave!

Nifty P&F (Wk 1006-1406) - VPO 5350, next support near 5800!

Recap:

Bearish sentiment is on. 5800 still to be tested.

Weekly Analysis:

Daily Analysis:

Summary:

Weekly & Daily Down. 5800 still to be tested. Let this time my VPO of 5350 be conquered!

Nifty P&F (Wk 0306-0706) - mid-term bearish with VPO 5385; next support near 5800

Recap:

5940 supported, 6030 resisted & broken through.

Weekly Analysis:

DailyAnalysis:

Summary:

Weekly & Daily Down. Breaking past last support 5940 will confirm arrest of larger up-trend & set a mid-term Down trend. In that case mid-term VPO targets 5385. 5800 might come up as next support level for this fall.