5th June

The Markets opened at 3833.33 and for the whole week trading was done above the level. The opening level of BSE-Sensex remained the Weekly bottom and the weekly top was formed on Friday at 4064.90 before it gave the Weekly closing of 4042.52. In the Weekly Bar Charts of BSE-Sensex this week's Bar is pregnant. It did form a higher bottom at 3835.33 as compared to previous week's bottom of 3675.53, but failed to breach the previous week's top of 4087.65. This pattern in itself indicates strength in the BSE-Sensex. But keeping into confederation the Kargil factor anything can happen.

Technically, the BSE-Sensex should take a break out from the weekly Bar of 4087.65 and 3675.33. Hopefully, after adding Badla, the Markets should open higher than 4087.65(Previous week's top) on Monday. If that be the case, the Bulls encounter resistence at 4152. On crossing this level successfully, they face resistance at 4210 and 4322. On the lower side the first level of support comes at 3977. Below this, very strong resistance appears at 3920 and in case Bears break this level of support also then the Sensex can fall further to 3830 and 3745.