NIFTY FUTURE AND CANARA BANK TRADING STRATEGY FOR 06/05/13

LAST CLOSE @ 5948

TODAY BULLS HOPE ONLY ABOVE 5965

SEEMS STIFF RESISTANCE AROUND  5965-------5985--------5990 LEVELS

SO TRADERS SHOULD BE CAUTIOUS @ ABOVE MENTIONED LEVELS

IN INTRA.....BULLS NEED TO SUSTAIN ABOVE 5990 LEVELS TO MARCH NEXT HIGHER LEVELS

ABOVE 5990...........WILL TRY TO KISS

6006---------6018---------6028---------6038 LEVELS

BELOW 5948.......INDICATING SOME WEAKNESS IN BULLS POWER

WILL DRAG DOWN TO 5932------- 5920 LEVELS NOT RULED OUT

ONCE BREAK AND SUSTAINING  BELOW 5920  FOR 10- 15 MINUTES WITH VOLUME

FREE FALLLL ON CARD TILL 5902---------5880----------5870 LEVELS 

LAST CLOSE @ 395.50

TECHNICALLY LOOKS WEAK............BULLS REAL STRENGTH ONLY ABOVE 408-10

ELSE....... BEARS WILL ATTACK SOON........BIG FALL ON CARD......VISIBLE DOWN SIDE TARGET

382---------368----------356 

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