Nifty Weekly Technical Analysis for Week Starting 02 April

From 01 April 2012 marks the fresh start of  Financial Year 2012-13. Wishing all Readers a profitable Financial year 2012-13.Nifty closed the Last quarter with a gain of 10.38%. Venezuela Stock Market closed with a whopping gain of 70%
I did a study how Nifty trades in the first week of a new Financial Year.Results were quiet fascinating and are summarized as below

Time Period:31-Mar-00 to 31-Mar-11

Max Gain :11.28% 31-mar-2009

Max Loss :1.67%   30-Mar-2001

Average Gain :2.4%

So Out of 11 Years only 1 year was negative rest all ended in positive.So Hoping for a green candle for coming week.

Nifty Hourly Chart

We have a gap in Hourly chart from 5178-5203. Bulls were able to protect the gap on Friday opening and took nifty for a 100 points gain as soon it moved above..

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