Market Trend For Next Week (23-27th May 2011)-

Today Sensex closed at 18,326.09 with the +184.69 positive points or 1.02% up. And the Nifty closed at 5,486.35 with the +58.25 positive points or 1.07%
On the other side in the Derivatives Nifty Futures: it closed at 5,479.00 with the +54.20 positive points or 1.00% up. up.

So over all market is bullish today and may start in a same manner in coming trading session. Overall the whole market was bullish at the end of the week after facing the bearish trend in this week.

Technically the market is in a typically sideways zone with 5400 as a strong support zone to work with and 5575 as a strong resistance zone to work with. Now we are at Make or Break level and if it cracks now then next stop around 5350 or could just bounce back.
It is looking bullish in the coming trading session if it manages to trade below the support level of 5400 else above resistance level of 5575 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 5575 & above this level the next resistance is seen near the 5650 mark.

SUPPORT: It has first support close to the level of 5400 & below this level the next support is seen near 5350 mark.