Market Status…
Market Status on the daily chart is Bullish. However, a resistance is seen at around 5950. You may notice on the chart, three black dots, where NIFTY failed to pierce through. In addition, however, a Doji like formation, occurred on the last trading day is a matter of concern. On Monday, if NIFTY gaps down and close below that of the last close, it will make an Abandoned Baby pattern and, could trigger a fresh sell off. It is time to be cautiously bullish, with physical stops placed religiously.
The chart of the week is Kingfisher Airlines. The details are marked on the chart.
