NIFTY OUTLOOK

CLEARLY BEARS ARE NOW SITTING WITH HUGE LOSS AND EVEN

BULLS ARE NOT READY TO GO MORE IN LONGS. ANY FALL IN

GLOBAL MARKETS WILL REFLECT IN NIFTY IN MULTIPLES.

NIFTY TRADING RANGE FOR 22/06/2010

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5200/5244/5288-5377/5389

STRONG ASIAN MARKETS AND BUYING BUY INSTITUTIONS LEAD

NIFTY TO TOUCH 5366 WHICH IS 33POINTS BELOW YEAR HIGH.

WE HAVE TO WATCH IS NIFTY IS GOING TO CROSS OVER 5400

AND TO MAKE NEW YEAR HIGH OR THIS IS DOUBLE TOP FROM

WHICH ANOTHER CORRECTION WAVE COULD START.

5DAY RSI 85 AND 14DAY RSI 65

INDICATE NIFTY IS IN OVERBOUGHT ZONE.

WEEKLY KEY RESISTANCE@5400

WEEKLY KEY SUPPORT@5066

NIFTY MAGIC LEVEL 22.6.10

MAGIC POINTS ARE 5388 and 5327