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Weekly Trend of Markets for 21st to 25th May2012

Trend of the Indian Stock Market

 

 

Close

bullish above

bearish below

Outlook for coming week

SENSEX30

16152.75 16850 16350 Sideways

NIFTY50

4891.45 5120 4955 Sideways

BANK NIFTY

9310.25 9860 9500 Sideways

We are likely to see some recovery in our market, if the Nifty manages to get past 4980   and to move up beyond 5070 - 5120 range . Conformation of Friday’s move would be held  as a reversal of the downtrend. 

NIFTY50  CHART

  Trend of the other Major World Markets
 

 

Close

bullish above

bearish below

Outlook for coming week

DOW JONES

12369.38 13000 12700 Sideways

CAC40

2970.1 3270 3120 Bearish

DAX

6271.22 6860 6510 Sideways

FTSE100

5267.62 5810 5480 Bearish

NIKKEI225

8611.31 9540 9200 Bearish

HANG SENG

18951.85 20660 19730 Sideways
  Trend of the Commodities and Currencies Markets
 

 

Close

bullish above

bearish below

Outlook for coming week

CRUDE

5038 5420 5260 Bearish

GOLD

28907 29300 28650 Sideways

USD/INR

54.54 54.10 53.45 Bullish

Over heated’ USD/INR and commodity chart suggests profit taking and outflows of funds during the week.

   

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Technical Analysis

   

It is possible that what is now called technical analysis, or market analysis, is the oldest form of financial analysis in the world. Several centuries ago in the corn markets of England and the rice markets of Japan traders developed a method of recording transactions that would enable them to see at a glance how much people had been paying for the product.

   

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Disclaimer: The Calls made herein are for informational purpose and are not recommendations to any person to buy or sell any securities. The above calls are based on the theory of technical analysis. The author does not accept any liability for the use of this column. Readers of this column those who buy or sell securities based on the information in this column are solely responsible for their actions. The author may have positions in any of the stocks mentioned in this column.

 
 

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