Nifty is really struggling to cross and trade above 5258 , the key level, as mentioned in the posts last 2 days.
Crossing and trading above 5258 with volumes, nifty will attempt to cross 5273.
On successful conquering of 5273, nifty will inch higher to the next stumbling block of 5292.
Above that will be another stumbling block of 5311 :-), which is our target for the week for buy at 5100.
Refer to weekly outlook post :- link
Lot of resistance overhead.
In case nifty reverses from 5258 area, it will revert to fibonacci mean of 5205 and golden mean of 5188.
Most indexes around the world have already crossed their highs made in January 2010.
Will nifty be far behind ? Let us wait and find out !!!
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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