WeeklyUpdatesFor07Jun---InderBhatia

BUY EXCEL CROP AROUND 200-195 TGT 227 >240 STOPLOSS 187

Last week sensex ended with net gain of 1.5%and the nifty gains by 1.4% .On the daily chart nifty is making higher top higher bottom formation and trading below 4961 zone violation of higher bottom formation .On the Friday nifty had tested 61 % Fibonacci Retracement of move from 5351 high and low 4782 it will act as resistance zone closing above 5153 zone likely to test 5200-5215 zone .On the other side trading below 4960 zone we can see more selling pressure .on Friday Dow Jones had seen sharp sell off we can open around 5093-5080 zone

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The Indian market opened weak note on weak global cues bounces from the lower level and close with green note . On hourly chart we are seen two option first we hand seen invert head and shoulder pattern and second rising wedge .Invert head shoulder breakout target 5347 zone and second cracking wedge below 5057 can drift lower side . For long position 4961 stoploss

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