Mangal ya Amangal

WOW! What a week... Phew..

We started off around 4000 peaked at 4118 came down to 3790 and zoomed back to 4092. Now this is what is called a traders week. Bulls and Bears happy with their pound of flesh. People who rode the bulls and bears at right time are also happy.

So Nifty 50-50 is actually divided 50-50.

Now what can we expect next week. Next week we have a Major political event which will define the market for quite sometime. A win for UPA can sooth some nerves and a loss can ensure nervous breakdown. Monday should be a very boring day in market unless something dramatic happens which makes markets dance to its tune. Tuesday will decide which way Market breaks out. It is already at resistance as seen in the daily chart ( I expect Monday also will respect this trendline). A breakout on upside will mean atleast nifty touching close to 4300-4500 which will also respect the weekly trend ( chart attached below)

Key levels for next week are

Upside: 4105,4121,4137,4169, 4216,4263,4311,4358,4405,4453,4500,4548
Any break of 4169 will mean that we can touch 4263 next week where we can face huge resistance. Next level for nifty after 4263 will be 4358.

Downside: 4066,4015,3963,3912,3860,3809,3757,3706,3654,3603,3551,3500.
If by any chance we break 3706 this week then 3603 and 3500 is a high probability

Think hard because its your money.