Nifty News 26.12.2006

On 20th. I mentioned that a rally to 5920 - 5950 looks imminent. The same was achieved on Monday. We need a close above 6010 to confirm that we are headed for greater heights.

Support on the downside is @ 5920 - 5840 & 5770 levels. Resistance @ 6010 - 6050 - 6090 levels.

Future expiry tomorrow , expect bouts of selling and buying. Expect Stock based action .

Ideally a corrective decline to 5700 levels and then an upmove would confirm to a health chart pattern.

Not for the faintheaded the coming day/days. Avoid if you do not have the stomach to see wild swings.