Premarket View - 20.12.2010

It is too early to post Premarket Review for Monday ....anything can happen including north korea striking wardrums but assuming things will remain cool and market will behave normal. Option reading index (+) 1.82 down from last trading figure of (-) 2.24 indicative of selling coming back at higher levels...Volatility is stagnant at yesterday levels with upward bias...

on Std Param, Price is above clouds but below tenkensen (6014.42). Kijunsen - 5774.25, Span A - 5894.34 & Span B - 5506.95. Wide gap in cloud running parallel. Span B is flat for rest of December indicating range movements in nifty on weekly basis. Oscillators are neutral 
On Short Param, Price closed abbove Tenkensen - 5895.30. Kijunsen at 6014.42, Span A - 5954.86 & Span B - 5843.7. Clouds are in rising trend indicating December weekly closing may be at higher levels. Oscillators are neutral but may turn up. Chikou span is trending up.

Daily
on Std.Param, Tenkensen - 5895.3, kijunsen - 5993.45, Span A - 5944.38 & Span B - 6014.42 
indicating bearish crossover of clouds. Price is oscillating between kijunsen & Tenkensen taking support at Span B -5850 for the day. Span B is gradually rising to give crossover. Nifty may be checked at 6014 and closing above 6014 may be considered to be bullish.
on Short Param, Tenkensen - 5905.60, Kijunsen - 5895.30, Span A - 5900.45, Span B - 5879.9 & Chikou Span 5948.75.
Tenkensen / Kijunsen cross - bullish - weak
Price / kumo breakout - bullish - weak
Resistance at Span B for monday 6000. Oscillators are neutral.  
Overall, my reading - nifty expected to be range bound with strong resistance at 6014.42 and closing above will be considered trend change and bullish.

 

Nifty EOD Review 16-12-2010 here (Nifty EOD review)
Bank Nifty EOD Review here (Bank Nifty EOD Review)