nifty outlook for 31-05-2011

BULLS MADE ANOTHER ATTEMPT TO JUMP OVER
5500, TOUCH 5509 AND CLOSES AT 5473.
IF BULLS FAILS TO CLOSE ABOVE 5533 ON TUESDAY,
THEN BEARS WILL START TO PLAY.
NIFTY IS UNDER THE BEARS GRIP AS LONG AS IT
TRADING BELOW 5755 WHERE 200 DMA PLACED.

AS PER ASTRO ON GURU NOW SAILING IN RISHBAM
AMSAM. MOON IS GOING TO SAIL IN MESHAM AND
RISHABAM THIS WEEK. GREEN TREND MAY RETURN.

TECHNICAL REMAIN SAME AS FOLLOWS,
FOR BULLS, WE FEEL SOME MORE STEAM LEFT IN
SYSTEM FOR BULLS. BULLS
CAN TOUCH 5533 OR 5555. GO ALONG WITH
DAILY MOMENTUM AND EXIT WITH MINIMUM POINTS.

BEARS,
NOW KEEP EYE ON 5533. IF NIFTY UNABLE TO JUMP
OVER 5533 BEFORE TUESDAY CLOSING, THEN
INITIATE FRESH SHORTS KEEPING 5555 AS STOPLOSS.

STOCKS TO WATCH

ABAN OFFSHORE BUY AT 560.90 TARGET 575
BAJAJ FINSERV BUY AT 488.00 TARGET 500
COAL INDIA BUY AT 388.25 TARGET 400

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