WHAT A WK FOR MARKET!!!!! SHORT COVERING CARRY ON THIS WK WHICH STARTED ON LAST FRIDAY. IT WAS SUSTAINABLE SHORT COVERING WHICH BRING MARKET UP & UP. ONCE AGAIN MARKET PROVE ITS SUPREMACY. MARKET LOUDLY TOLD US THAT DON'T TRY TO JUDGE ME JUST FOLLOW ME. EVERY ONE EXPECTING NIFTY MAY
FACE RESISTANCE AROUND 5450-5500-5605 BUT NIFTY NOT ONLY BRECK ALL THIS RESISTNCE BUT MADE HIGH OF 5705 & CLOSE ABOVE 200 DEMA ALSO. WKLY INFLATION ALSO HELP MARKET WHEN IT DROP FROM 7.78 % FROM 9.13 %.
GOOD ROLLOVER WAS SEEN IN NIFTY 67 % V/S 60 %. MARKETWIDE ROLLOVER ALSO REMAIN ON POSITIVE SIDE  77 % V/S 73 %. THIS WK SENSEX GAIN 2.86 % & NIFTY GAIN 2.85 %. FII WHO REMAIN NET SELLER IN LAST  FEW WK SHIFT BUYING SIDE THIS WK. FII WKLY NET POSITIONAL IN CASH UP 5127.18 CR. & DII SHIFTED FROM  BUYING TO SELLING SIDE. DII WKLY NET POSITIONAL IN CASH DWN 2810.72 CR. 
 
NOW WHAT IN NEXT ???
 NIFTY CLOSE ABOVE 200 DEMA. SHOWS STRONG SHORT COVERING. WILL SUSTAIN THIS LEVEL?? MARKET REMAIN IN BROAD RANGE OF 5900- 5200 IN NEXT FEW MONTH. SHORTTERM OUTLOOK CHANGE BUT LONGTERM OUTLOOK REMAIN ON
DOWN SIDE. THE MAIN CONCERN IS VOLUME.IN LAST TWO WK ONLY 1 DAY WE SAW THE VOLUME WHEN NIFTY FALL AFTER DOUBLE TAXATION AGREEMENT NEWS. AFTER THAT NO MAJOR VOLUME WAS SEEN.NIFTY WILL FACE RESISTANCE  AROUND 5740-5800-5850 & SUPPORT AROUND 5605-5545-5480.
STOCK TO WATCH :
RELIANCE SUPPORT 854-845-832. RESISTANCE 868-878-892.
SBIN SUPPORT 2380-2345-2300. RESISTANCE 2430-2495-2540.
LT SUPPORT 1800-1725-1640. RESISTANCE 1850-1935-2010.
TATA STEEL SUPPORT 595-590-582. RESISTANCE 608-615-623.
APOLLO TYRE 19TH JUN BLOG TOLD THAT ABOVE 74 LEVEL IT LOOKS GOOD. YESTERDAY IT MADE HIGH OF 80.40. IT WILL FACE RESISTANCE AROUND 84-89 LEVEL. 

LAST WEEK WE SAW HIGH DRAMA IN MARKET. NEWS OF DOUBLE TAXATION AGREEMENT WITH MAURITIUS TOUMBLE THE MARKET. NIFTY MADE LOW OF 5195.90 & MANAGE TO CLOSE AT 5257. UNEXPECTED RECOVERY WAS SEEN ON FRIDAY MARKET GAIN MORE THAN 3%. NOT ONLY INDEX BUT STOCK ALSO SHOWS UNEXPECTED MOVEMENT. FII WHO REMAIN NET SELLER FROM LAST FEW DAYS TURN NET BUYER IN LAST FEW SESSIONS. FII WKLY NET POSITIONAL IN CASH DWN 243.68 CR. DII STILL REMAIN NET BUYERS. DII WKLY NET POSITIONAL IN CASH UP 1206.19 CR. THE MUCH AWAITED NEWS CAME ON FRIDAY EVENING. DISEL, KEROSN & LPG PRICE WAS HIKE BY GOVT. ITS INTERESTING TO SEE HOW MARKET REACT ON THIS.
 
   NOW WHAT TO EXPECT? NIFTY TRADED WITH LOW VOLUME FROM LAST MANY DAYS. SO FOR FURTHER ANY UPMOVE OR DOWNMOVE  WE NEED CONFIRMATION FROM IT. RSI SHOWS SOME POSITIVE DIVERGENCE. NIFTY FACE RESISTANCE AROUND 5500-5555-5600. WHERE SUPPORT AROUND 5440-5415-5372.
NIFTY 7 DEMA 5371.42.
NIFTY 20 DEMA 5423.81.
NIFTY 200 DEMA 5577.54.

STOCK TO WATCH :

RELIANCE MADE LOW 833.25 & BOUNCE BACK.
SUPPORT 862-855-848. RESISTANCE 875-888-890.
LT ONCE AGAIN TRADE NEAR SHORT TERM RESISTANCE OF 1740 LEVEL.
SUPPORT 1705-1687-1665. RESISTANCE 1760-1830-1890.
TATASTEEL RSI ON DAILY CHART SHOWS SOME POSITIVE DIVERGENCE.
SUPPORT 572-568-566. RESISTANCE 582-590-595.
SBIN SUPPORT 2250-2205-2165. RESISTANCE 2295-2350-2395.