Range to Continue.

Nifty has got fixed in a range, albeit a lower one. For this series the range seems to be 5700-6100. And with Fridays upmove the range seems to have gotten from 5800-6100. Friday was a perfect time to go in long, I took long positions on Thursday itself after the huge drubbing Nifty got this week. Actually last monday had set the tone for the rest of the week with nifty appearing to be quite weak. FII's selling momentum had started to gather pace, and it only recided after thursday and Friday saw good FII buying in Nifty Index futures. Tomorrow should be good and we should gin further ground with positive bias. I would be looking at 5950 levels for markets to take a breather and then go sideways before ending at 6100 types at the end of the series. However a word of caution if markets correct sharply from 5950, it would be great position to change your position and go short. Cause in that case 5700 might not hold (but the chances of that happening are very low). So next week should be a go long with a stop of 5880 (Fridays closing).