Nifty Future -- 29-oct-10 -- Before opening.

Oct'10 series closed at 5987, and nov'10 series nfity future is at 6064.
77 points premium.
So cannot post chart, after opening i will post chart.

Main points are--
1. Nifty future breached 7 week EMA yesterday in oct'10 series , which was at 5991, but in nov'10 series it is safe.
In any case, Nifty future should not break and close below 7 week EMA today, as because today is also weekly closing.
If it close below 7 week EMA today, then can expect a deep correction farther ahead.

Upside, strong resistance zone is at 6081 and 6097.
And if nifty future can cross 6109 and stay for one hour, then can expect more upside as of now.

And downside support zone's starts from 6040 - 6019, any break of this zone can test down side support zone which was at and still also at 5987 - 5970.

Weekly 10 EMA is at 5920. This can also give support and can bounce back from here( if any fall up to here ).

So keep close watch at the level 7 week EMA- 5991, should not close below this today.

Many more after opening.

Regards
Siddharth.