FOR THE COMING WEEK (07-11, June 2010)

FOR THE COMING WEEK: Indices are likely to face resistance at the 17150-17200-17350/5150-5180-5200 levels. Any surge in the indices may see profit taking around the indicated resistances. Downside supports are placed at the 17050-16900-16800/5080-5050-5000 levels. Depending on the global cues we expect to see an upward recovery from the mentioned supports and the trades could be influenced by strong moves sectorally. Any move until the above mentioned resistances shall be utilized to exit from long positions and look out for a sustainable move. However, looking at the broader scenario we advise investors to play the broad range movement with caution and strict stop losses.

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