Nifty Weekly Analysis.

As Predicted last Friday Nifty future went to inch of 3950 with support of Reliance , the big giant.Everyone expected an healthy budget,but its was neither healthy nor unhealthy. IIP data have good numbers beaten the predictions. Infosys results was better than expected,still it negative numbers.So whats for next week in markets? lets see now. Before that lets see the fund activity of institutional traders.

Fund Activities for the closed week :::: FII (-4680 Crores) ::: DII (+3663 Crores)

So here we get the clue. FII's on sell side clearly indicates they have some caution in Indian markets but on the other hands DII's where net buyers giving some hope for markets. But for me always FII's have better hands than DII's. So lets see the clues for next week trading.Its result season started so market will trade on caution note.Volume was huge in this phase of fall which indicates markets turned sell on rise. 4155 acting strong Resistance in Nifty future. So until nifty close above 4155 it looks weak.Every one expecting a pullback upto 4150 mark,but for me crossing 4083 will be tough for nifty in coming week. So 4083 is the level to be watched next week. Here I will post a chart have a look.



Above chart RED line acting as support and resistance on past. So now it pegged @ 4136 which will act as Resistance for Next week and support for next week @ 3817. I am for 3713 in Nifty future.Positional traders and investors can skip the market.Market will be Range bound. Second chart says Price action turned Bearish.Until smart money enters market it will be range bound with -ve Bias.

Happy trading.