NIFTY SPOT EOD CHART- ROAD MAP FOR JULY : AUGUST 2011 - NEXT RALLY TO START ONLY ON WEEKLY CLOSE ABOVE 5760 - BULLS 5760 : BEAR 5540 - LAXMAN REKHA 5300 ON WEEKLY CLOSING FOR DOWNTREND

NIFTY SPOT EOD CHART DT 1st JULY 2011

THE TRENDLINE RESISTENCE COMES AT 5700-5735 AS SHOWN ON CHART

NIFTY MAY REMAIN RANGE BOUND 5540-5760 FOR COMING NEXT 7-10 DAYS

THE STRATEGY SHOULD BE SELL ON RISE AND BUY ON DIPS WITHIN THE RANGE

BUY ON DIPS NEAR 5560-5580 AND SELL ON RISE NEAR 5700-5720

NEXT RALLY TO START ONLY ON WEEKLY CLOSE ABOVE 5760

TO IGNORE WHIPSAW WE CONSIDERING LEVEL OF 5760 ON WEEKLY CLOSING

BULLS NEED TO WATCH 5760 ON WEEKLY CLOSING PLUS STOPLOSS FOR BEARS ON WEEKLY CLOSING
WEEKLY CLOSE ABOVE 5760 TGT's GIVEN BELOW ONCE CLOSE ABOVE STOPLOSS WIL BE GIVEN

WILL MOVE FOR LEVELS 5910-5930 / 6020-6040 / 6140-6180 / 6280

BEARS NEED TO WATCH 5540 ON WEEKLY CLOSING PLUS STOPLOSS FOR BULLS ON WEEKLY CLOSING
WEEKLY CLOSE BELOW 5540 TGT's GIVEN BELOW ONCE CLOSE BELOW STOPLOSS WIL BE GIVEN
WILL MOVE FOR LEVELS 5430 / 5340 / 5260

LAXMAN REKHA 5300 ON WEEKLY CLOSING FOR DOWNTREND

IF MANAGE TO CLOSE BELOW 5300 ON WEEKLY CLOSING

THEN WILL FOR TARGET 4775 / 4540 / 4380 STOPLOSS 5610 ON WEEKLY CLOSING
FUTHER CLOSE BELOW 4380 WILL TGT 3900-3700