Nifty Weekly Technical Analysis for Week Beginning 11 June

Last Week Analysis Trend Deciding level was 4667 and Nifty made low of 4770 and bounced back with a bang. WoW basis Nifty is up by 4.7% rallying with Global markets. Next Week will be crucial and volatile as we have lot of data points coming from India Macro Perceptive.
1)12 June : IIP data for Jan 2012 (Expected 1.5%);
2) 14 June : Inflation Data (WPI);
3) 15 June : Advance Tax Payments due for Q1FY13
Euro zone agrees to lend Spain up to 100 billion euros. So Spain has become the latest causality from EU debt crises, Market rally last week has already factored this news and any initial excitement can be used to book profits in longs. Buy Rumor Sell News

Nifty Hourly Chart

Nifty Hourly charts has Spiked up quiet violently on Last Friday after filling the gap of 4997 and closed above 5065. Trendline resistance now comes at 5120.

Nifty Gaps

Nifty has the following

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