BULLS WIN FRIDAY AND WILL CONTINUE THE VICTORY ON MONDAY

Maruti future call given in last post achieved all targets.

NIFTY OUTLOOK FOR TOMORROW

As we have predicted in last post 50-share Nifty reclaimed the 6000-mark encouraged by better-than-expected trade data and Infosys Q1 numbers. Infosys, the second largest software services exporter, beat the street with the consolidated net profit growing higher-than-expected 0.8 percent sequentially to Rs 2374 crore . Technically speaking, now, the end-of-day chart of the Nifty really looks quite promising for a new uptrend shaping up yet we would look forward to a decisive close above 6010. This would, more or less, seal the stamp of the bulls really getting the better of the bears despite all odds...

The next important level is 6025. Once the bulls take out these two levels, we would understand that the bullish momentum is here to stay. In fact, going beyond 6025 and staying there could mean new vistas unfolding for the Nifty and consequently for our market. Thus, until the bears are able to take out the level of 5820, any fall resulting thru their selling could well turn out to be another invite for the bulls to buy again. 
RESISTANCE:5980, 6010,6040

SUPPORT:     5960, 5920,5880