Market outlook for the week 20-24June

In last few days we have seen some roller coaster rides in markets. Last week also the bears regained the ball in later days of the week, after an early fumble. On Friday in the end around closing bell, the bulls took the ball back and regained some of that lost yard by bouncing back from support of 5358 level. It’s about time! But the question arises is that, till how long the bears will able to hold the ball?? The answer in current scenario seems to be, VERY LESS TIME!! Till the bulls are able to keep Nifty fut above 5310 mark on closing basis, bulls are mightier than bears. But overall, we just have the feeling that the direction isn’t going to be straight! Meaning, we are looking for some choppy action in markets, to lure in some bulls and shakeout some bears.

Read the facts provided for knowledge & use your own wisdom to trade in this market.

Whats going to happen in markets? Whether bulls or the bears will get the next high dose of Viagra? No one knows for sure of course, but everything we see now is pointing to some really unexpected movement to come within next couple of weeks. While the bulls aren’t officially dead, they need to make a stand this week or else they will lose the 5300 major support level.

Last week we posted two articles, which were of ample importance for all. Read it completely & get benefited-

1. Article - 1
2. Article- 2
   

Now moving forward for coming days, the bears need to gap this thing down below support 5310, or the bulls are going to stage another massive murder of them. If bulls are able to hold the markets above 5310 level, then surely bulls are having an upper hand once again. But moving onto the higher side bulls have barrier at 5448 level, if they are able to cross this barrier then they will inch higher up to 5490-5555-5624. Moving on to higher side 5595-5624 will be resistance zone for bulls, and an extra adrenaline rush to cross it. Contrary to this bull side, if bears are able to restrict the bulls from marching higher & pull the markets down below 5358 level, then we can see selling coming in markets & Nifty fut showing levels of 5310-5230-5165. However the bears will be having a tough fight with bulls in lower range 5310-5358. Bears have to work hard to break the support 53100 on closing basis, in order to save themselves from getting butchered by the bulls once again. Overall immediate range for the markets for this week looks like 5310-5555, & a broader range of 5230-5624. All upside above 5555 in markets is the “offloading zone” we believe. It’s up to us to figure it out of course, but never forget to expect the unexpected..... Read the facts provided for knowledge & use your own wisdom to trade in this market.

One thing we want to share with every market trader is that don't leverage naked positions in this market, as the first half of 2011 was a part of the bear game, & the whole movie is still to come. So better trade on levels & trade bi-directionally rather than trading on unidirectional sentiments without stop loss.

Stocks for the week

• OMDC
• Ester Ind.
  
• Punjab Wool
• Bedmutha Ind.
• Raymond
• Alkali Metal
• IFCI
• Money Matters Financial

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