NIFTY WEEKLY UPDATE

SUMMARY:-
-friday we had tcs numbers
-numbers were weak
-we had cpi numbers by china on friday
-they came higher then expected
-european inflation also higher
-reliance weekly double top and tcs numbers heavy weight will have effect on market
-twitter drama and cpi numbers on wednesday will have a toll on usa market
-dxy sustaining above 107 showing signs of moving higher
-we have a target of 118-120
-mega week for usa market important economic data is lined up this week

NIFTY TECHNICAL
-we had a gap between 15930-16180 which has been closed
-techincally we closed above 20-50 dma on friday with a hammer pattern
-if we gap down on monday we will have a evening star pattern in place also
-index management is on fresh longs will be executed above 16420 only we will have swing pattern break
-wait and watch approach


NIFTY LEVELS TO WATCH
SUPPORT
16040-15950-15830
RESISTANCE
16275-16400-16520(MINOR)