Nifty View

In the coming week, it is mandatory for the market to cross the level of 10990 that too in next 2 to 3 days. Current momentum is having enough strength to cross the level of 10990, however, failure to do so would result in one more decline to 10600/10550 levels. Above 10990, Nifty would start moving towards 11200/11300 levels. For the day, Nifty could remain range bound between 10950 and 10800. Strategy should be to take contra bet of short selling around 10950/10960 with a final stop loss at 10990. On the other side 10800 would be trend decider level and break of it would result in gradual decline to 10600 levels.