Nifty Weekly Outlook 09-13 Jan'2012

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If we look at Nifty last week performance, Nifty witnessed a new high but was unable to close above it. For next week if Nifty closes above 4,825 on the upside, then Nifty could find resistances at 4,860-4,900 levels. At the higher end of these levels, Nifty has resistance from the 50 day moving average (dma) as well as a downward sloping trend line gives it a resistance. On the downside, supports are placed at 4,610-4,525 levels in the near term.

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