NIFTY FUTURE STRATEGY FOR 05/07/12

LAST CLOSE @ 5323

 LAST 3 DAYS, THE NIFTY HAS BEEN TRADING IN RANGE BETWEEN 5270 - 5335. A MOVE OUT OF THIS RANGE SHOULD GIVE A DIRECTION  FOR NIFTY.WE CAN LOOK FOR A BREAKOUT OF THIS  RANGE VERY SOON.

YESTERDAY INDICATED ABOVE 5310...WILL TAKE TO 5325 - 5335 LEVELS. YESTERDAY MADE HIGH 5332.

WHAT TO EXPECT TODAY?

TODAY IF BULLS CAN TRADE AND SUSTAIN ABOVE 5323....WILL TAKE TO 5334 - 5347 LEVELS.

SIGNIFICANT RESISTANCE @ 5340.

ABOVE 5340....BULLS TRY TO HIT 5358 - 5366 LEVELS.

BELOW 5320....BEARS TRY TO KISS 5310 - 5287 LEVELS. 

THEREAFTER 5272  AND 5240 ARE SUPPORTS.

STIFF RESISTANCE @ 5400 - 5410

STRONG  SUPPORT @ 5215 - 5200 LEVELS

SBI - AXIS - ICICI ANALYSIS FOR 05/07/12

LAST CLOSE @ 2225

YESTERDAY INDICATED....TRADING ABOVE 2190 WILL TAKE TO 2218 AND  WE CAN SEE 2244 IN COMING DAYS.Y'DAY MADE HIGH 2230 .

TODAY ABOVE 2225... BULLS TRY TO HIT 2235  - 2244 LEVELS.

THEREAFTER 2256 TARGET FOR BULLS.

BELOW 2225....BEARS MAY TAKE TO 2200 - 2190 LEVELS.

BELOW 2190....NEXT SUPPORT @ 2177.

LAST CLOSE @ 1041

YESTERDAY BOLDLY WRITTEN....ABOVE 1045....MAY KISS 1050 - 1054 LEVELS.

HIT HIGH 1052

TODAY  TRADING ABOVE 1040....WILL TAKE TO 1053 - 1063 LEVELS.CROSSOVER 1063....MAY HIT 1072

BELOW 1054....BEARS IN POWER.

TODAY 1040....BEARS MAY EXTENT THE FALL UPTO 1033 - 1023

BREAKDOWN BELOW 1023.....WILL TOUCH 1015

LAST CLOSE @ 903

RESISTANCE @ 912 - 918 - 923

SUPPORT @ 896 - 884 - 877