Again Break out still not 100% confirmed ?

P K Chaudhary (ceo Nifty T3 Terminal)
 
S&P CNX Nifty (5,697.70): The month-long range-bound trading seems to have been finally resolved during the week gone by. As observed in recent weeks, the immediate target of the Nifty is 6,000 and the price action this week indicates that the journey towards this target is underway.

The short-term bullish view would be invalidated if the Nifty falls below the recent swing low of 5,580. While a breach of this swing low would be a sign of short-term weakness, it would not affect the view of a rally to the 6,000-mark.

A fall below 5,580 would be a pointer that the index is still in a downward corrective phase and the rally to the 6,000-mark and beyond would be delayed. The index has to fall below 5,200 to invalidate the chances of a rally to 6,000.

In my view until nifty future  hold 5650  nifty future can go up 5870-5890 range in upward. & watch nifty future very closely at 5762 once nifty future crosses 5763 in upside it must hold this level to reach above 5850 plus. but technically my view is some think different in real situation comming monday nifty future will hit 5753 then suddenly drag down up to 5668 in down side watch here very very care fully 5650 must be hold.

COMMING SUNDAY 11-11-2012
THERE WILL BE TRADING STYLE IN DESI STYLE HOW U SHOULD UNDERSTAND INDIAN STOCK MARKET ?
WHY MARKET MOVE IN RANGE SOME TIME 5050, 5850, 5350, 6338, 4532 ETC ?

FIND ALL ANSWER THIS WILL BE MY 100% PERSONAL OPINION.