NIFTY
Nifty future has run into a significant resistance zone at 5045.
If nifty is able to trade above 5058, it will move to 5075, 5090 and 5105.
On the other hand reversal from 5045 will indicate nifty moving down to 4980, 4950 and 4935.
BANK NIFTY
BANKNIFTY is also near significant resistance zone at 8985.
Reversal from 8985 will indicate BNF correcting sharply to 8880, 8835.
In case the resistances are overcome with volumes, upside targets are 9030, 9080.
Link to MCX gold weekly analysis : http://jerrytechnicals.blogspot.com/2010/02/weekly-outlook-gold-mcx-01-march-to-06.html
Link to indian stock market weekly analysis : http://jerrytechnicals.blogspot.com/2010/02/week-after-budget-how-to-trade-nifty.html
Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.
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