Nifty P&F (Wk 2309-2709) - Pullback in process till 5800 intact

Recap:

The resistance zone of 6020 again got cleared off with a gap up. Friday nervous sell helped fill the gap.

Weekly Analysis:

Daily Analysis:

Summary:

Weekly Up. Daily Down. Market has passed through a couple of critical resistance lines. It's pulling back those moves now. Already supported the friday fall at Fib62 @ 5935 level. Until 5800 is breached it's expected to stay supported with resistance at BrRL @ 6085 level.

On a closing chart, if next week closes above 6032, we should expect a new uptrend has resumed.

Nifty P&F (Wk 1609-2009) - Again in resistance zone till 6020-60 cleared, support 5620 followed by 5580

Recap:

The resistance was broken through a gap-up.

Weekly Analysis:

Daily Analysis:

Summary:

Weekly UP. Daily Down. See a copy-book BrRL offering resistance. Until 5900 is broken through, expect a pullback or a reversal, which should get support at Fib38 @ 5620-5635 level followed by a BlSL at weekly chart @ 5580 level.

If 5900 is broken through, there is a BrRL on weekly chart @ 6020 level. On long side, if the story continues, we have a VPO of 6460!

Nifty P&F (Wk 0909-1309) - In the resistance zone, support to come near 5420

Recap:

Pullback supported at 5320.

Weekly Analysis:

Daily Analysis:

Summary:

Weekly UP, Daily Up. Both hitting the BrRL. Expect some supply here. 5420 level should be important point of support.