WEEKLY ANALYSIS FOR WEEK ENDING 24TH MAY

IT WAS ANOTHER TRIUMPHANT WEEK FOR NIFTY AS IT MADE THE 5TH CONSECUTIVE WEEK OF BULLISH CLOSING. WHAT IS MORE INTERESTING THAT EACH OF THESE 5 BULLISH WEEKS HAD NIFTY CLOSING ABOVE THE HIGH OF THE PREVIOUS  WEEK CONFIRMING TO THE MEGA BULLISHNESS THAT NIFTY HAS BEEN DISPLAYING AFTER MAKING THE  10TH APRIL SWING LOW OF 5477. NIFTY’S  CLOSING THIS WEEK AT 6187 &  DECISIVELY CLOSING HIGH ABOVE THE EARLIER 29TH JANUARY 2013 SWING HIGH OF 6111 AND ALSO ABOVE THE CRITICAL 4TH JANUARY 2011 SWING HIGH OF 6181 LEAVES THE BULLS WITH VERY HIGH MORAL TO LOOK FOR THE CRITICAL RESISTANCE LINE AROUND 6323 JOINING THE VERY IMPORTANT RESISTANCES OF 6357 & 6338 AS CAN BE SEEN IN THE LONG TERM MONTHLY CHART.

ALTHOUGH THERE IS EVERY POSSIBILITY OF A TOOTH & NAIL FIGHT BETWEEN THE BULLS & THE BEARS  TO GAIN SUPREMACY AROUND THIS ALL IMPORTANT RESISTANCE LINE, BUT BE ABSOLUTELY SURE THAT  LIKE THE EARLIER BULL MARKETS, THIS TIME ALSO THIS CRITICAL RESISTANCE LINE WILL BE BREACHED AROUND 6323 TO CROSS 6338 FOLLOWED BY THE BREACH OF EARLIER LIFE TIME HIGH OF 6357 TOWARDS A NEW LIFE TIME HIGH TO COMPLETE THE 1ST UP SUB LEG OF 3RD MAJOR UP WAVE. THIS IS

WEEKLY ANALYSIS FOR WEEK ENDING 17TH MAY

NIFTY CONTINUED WITH ITS MEGA BULLISH UP MOVE FOR THE 4TH CONSECUTIVE WEEK & WHAT IS MORE IMPORTANT IS  THAT  DURING EACH OF THESE BULLISH WEEK, NIFTY CLOSED ABOVE THE HIGH OF THE PREVIOUS WEEK THAT ADDED FURTHER STRENGTH TO NIFTY. A DECISIVE CLOSE ABOVE THE CRITICAL 5975 SPOT & 5995 FUTURE LEVELS ACTED LIKE A STEROID DOSE FOR THE BULLS THAT SAW NOT ONLY HEAVY BUYING ABOVE 5975 SPOT AND 5995 FUTURE LEVELS BUT ALSO SAW BEARS QUIETLY COVERING THEIR SHORTS ON EVERY SMALL INTRADAY DECLINE FEARING THAT NIFTY WILL AGAIN BE UNTRACEABLE ONCE IT AGAIN BREACHES & MORE IMPORTANTLY CLOSES ABOVE THE 29TH JANUARY SWING HIGH OF 6111 SPOT & 6120 FUTURE LEVELS. WELL BEFORE THAT ACTUALLY HAPPENS( 2 TO 3 DAYS OF CLOSING ABOVE THESE SWING HIGHS),  ONE SHOULD NOT BE SURPRISED TO SEE ANOTHER DRAMA BEING ENACTED BY THE BEAR OPERATORS, INTERESTED  FINANCIAL  CHANNELS TO PULL NIFTY DOWN TO INDUCE A FEAR  AS IF ALL THAT WAS SEEN IN NIFTY DURING THE LAST FOUR WEEKS OF RISE FROM A LOW OF 5477 TO A HIGH OF 6114 ON FRIDAY 10TH MAY WAS JUST A DEAD CAT BOUNCE & NOT THE ON GOING MEGA BULL MARKET.