Nifty trading below key levels; Trend absolutely weak; What is now onwards? Here is the answer ~ eToro

Indian markets trading below expected levels, The trend is now absolutely weak; What will be next?

Read our weekly trend analysis for the week May 20- 24, 2013

Nifty and Sensex weekly outlook and trend analysis for May 20, 2013 to May 24, 2013

Monday, May 20, 2013 NIFTY
Trend- Flat to Strong
SENSEX
Trend- Flat to Strong
Last week, Indian Stock markets rallied for the fifth consecutive week. Sensex and Nifty closed at 30 month highs on hopes of a rate cut by Reserve Bank of India in forthcoming monetary policy meeting next month. Strong inflation data, previous week inflation fell to 4.89 points- the lowest level since 2009 November, also helped the markets.Interest rate sensitive stocks like Banking, Realty and Consumer Goods were out performers.
S&P CNX Nifty opened at 6098.20 went to a low of 5970.05 and then saw a high of 6199.95 before closing at 6187.30 (80.05 points or 1.31 per cent higher)
BSE benchmark S&P Sensex opened at 20073.41, after seeing a low of 19652.69, witnessed 30 month high of 20328.19 and closed at 20286.12 (203.5 points or 1.01 per cent higher).
Short term technical trend of the Nifty and Sensex is 'Flat to Strong'.
This week Nifty and Sensex are expected to trade range bounded in the absence of clear Indicators.Nifty may trade volatile between 6100 and 6270. But if NIFTY breaches 6314 and stays above at least 6250 with good volume then trend is becoming 'STRONG' and may see 6380 and 6480 on coming days. If Nifty breaches 6061 and stays below 6124 then NIFTY trend is to be 'WEAK'.Then expected lower targets are 5980 and...............

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