Heavy volatility was observed in market as 2 major macroeconomic data were scheduled this week, whole sale price index and The RBI's mid quarter monetary policy review where No changes in CRR and Repo-rate boosted market gains, The US Federal Reserve's meeting to take a call on tapering its 85-billion-a-month bond buying program, the Federal Open Market Committee (FOMC) finally decided to start tapering its third round of quantitative easing By January 2014. These were the key triggers for market this week. Nifty Dec Fut gave a closing at 6300 up by 65.45 bps. And Sensex Closed at 21080.

For next week Nifty Dec  Fut can manage  to show some bull run as technically it is looking  strong on charts and has tested its nearby resistance level, it is sustaining above its rising trendline and its 10 and 50 days moving average giving further indication for  upside movement. If Nifty Dec Fut manages to cross it major resistance level of 6320 it can test the levels of 6370 and 6452. Its important Support level to watch is 6145, breaching of this can take Nifty to 6035 Mark.

Stocks to watch on:

TATAPOWER FUT:- Technically stock is looking very strong on charts, its overall trend is up, it  is forming a pennant pattern on its daily chart there by indicating trend continuation in upcoming sessions,  and more over stock is sustaining above its 10 and 50 days moving average. One can take fresh long positions in Tata Power fut long above 92.45 for tgts of 95

IBREALEST FUT:- Technically stock is looking strong on charts, it is very well sustaining above its rising trend line, thus further upward movement can be expected in it. One can take fresh long position above the level of 68.60 for tgts of 71