What’s in NIFTY this week?

NIFTY took a tight rope walk of Friday, though it managed to close at the highest for the immediate preceding 52 weeks. Yes you have heard it right; it's a NEW 52 WEEK HIGH
on closing values for NIFTY this week. Sad is that it was not able to breach the previous high of 5310. Daily charts are robust, while Weekly MACD Histogram is still lagging below zero. Volumes have started receding and so does the daily range. Is there a fall ahead?

It seems likely, and guess what? That is a good opportunity to add to existing long or take new long trade positions too. There is a very strong chance for NIFTY to break 5300 on closing and take it to 5370-390 levels. A small profit, but a very high probability trade. Before entry a fall to value is required. 5815 - 5110 is the value zone for the next session. Next week is a small trading week with financial year closing and a holiday, there is a likeliness of major activity in the markets. Corporates will start pulling out parked revenues from mutual funds to adjust balance sheets. This will in turn ask mutual funds to do some liquidation, though premature for the present trend of the market, it needs urgency. They will once again buy into the same market when liquidity increases in the new financial year.

This activity will provide short term traders a big opportunity. Take positions enjoy the ride. NIFTY is long on daily from 4992 and on 60 min charts from 5223 levels. Both positions have already locked considerable gains.