Weekly review

JAY SWAMINARAYAN

At 1-7-11 Nifty closed at 5627 and we said in our each & every weekly review from 4-7-11 "  only above 5660 Nifty will be generate strength and above 5750 momentum too, but it's look like difficult at this time. Now below 5660 Nifty will be loss it's strength and below 5570 momentum too.  "
We have record of our weekly review from May 2010.( You can read all previous review on blog archive )  we always give 2 support levels and 2 resistance levels in our all weekly review but from July 2011 we gave only 1 resistance level 5660 - 5750.and we said  in our every weekly review  "  only above 5660 Nifty will be generate strength and above 5750 momentum too, but it's look like difficult at this time. "  During  July Nifty was mostly traded near 5660 but only 2 time succeed  to closed above 5660 . 1st on 7-7-11 and 2nd on 25-7-11.
 We said on 19-6-11 "  . NOW WE HAVE TWO PROBABILITY AND EACH HAVE EQUAL CHANCE.AND AFTER COMPLETION THIS EQUATION WE WILL SEE SOME MORE DOWN SIDE.. [1] NIFTY WILL BE TAKE SUP NEAR 5350-5300 AND THEN TURN UP TO TOUCH 5510 BUT NOT OVER 5620. [2] NIFTY WILL FALL SHARP TOWARDS 5210 AND THEN TURN UP TOWARDS 5300 - 5350.  "     Nifty  completed our both equation in 10 days..Nifty first completed our 2nd equation than  Nifty completed our 1st equation.  Any how.Nifty managed to crossed 5620 but not sustained above it. and entered in sideways.  Nifty gone upward  one or two day's than in next one or two day's it gone downward almost all day during  July.

We expect now 5300 will be working as a strong support and 5660 working as a strong resistance for the Nifty. In this week Nifty might be traded range bound between 5390 - 5570. Nifty find 1st sup. at 5480 - 5390 & 2nd at 5300 - 5210 and find 1st res. at 5570 - 5660 & 2nd at 5710 - 5750.


NIFTY : OP = 5633.80 , HI = 5702.25 , LO - 5453.95 , CL = 5482.