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S&P 500 continues to be in a consolidation mode and has been moving sideways. Failure to breach 1360 may see it test 1320 or lower in the coming week. A move above 1360 will lead to positive development in the short term.

Bovespa behaved in line with our anticipated view. It is currently trading near the support of 62300 below which it can slip further to 61000. On the upside, only a decisive move above 64000 will warrant a trend change.

Last week, SSE again bounced back from around 2800 which is its 200 DMA. As of now, this index may continue to consolidate in a trading range.

New Delhi, May 22 : Actress Juhi Chawla is distressed over the condition of her elder brother Bobby, who has been in a coma after suffering a massive stroke last year.

"I have come to the Ambani hospital after four months to meet a doctor... But I just have not the nerve to go see my brother (sic), " Juhi wrote on microblogging site Twitter.

"My brother is still up here in the ICU ... I'm sitting in the prayer room downstairs. I'd cried and cried... Several times here, begging for my brother to be revived, but he's still here, in a sad state and I'm so scared to see him, I don't go," she added.

Aluminium achieved our downside target of $2500 that was mentioned in last week’s report. Its trend still remains down and it can further decline to $2450. Only a swift move above $2575 can cause any positive outcome in the immediate term.

Zinc remains in a trading range of $2200 on the upside and $2050 on the downside. A breakout/breakdown from this range will decide the next course of direction. This is an occasion to step back a bit to wait and watch the developments as they unfold.

CNX Defty still remains in a downtrend. A move above 4350 may lead to a trend reversal in which case higher targets could be tested. As long as the support of 4150 is held, one could keep a positive bias to this index.

BSE PSU had a breakdown from the trading range and declined for the major part of last week. It is currently standing near an important support of 8400. A breach of 8400 can cause further declines till 8200.

The BSE Bankex slipped which was a bit contrary to our projected view. 12000 remains a good support. A bounce back closer to 12500 is possible if this support level is held in the near future.

Trendline Resistance: The Nifty has adhered to a falling trend line since last week of April, 2011. This blue coloured trendline (refer chart) has been acting as a resistance in the short term.

Short / Medium Term Oscillator: The short term oscillator apart from being oversold is now exhibiting positive divergence. The medium term oscillators continue to be on the buy mode after a good weekly closing.

Film: "Veera"; Cast: Ravi Teja, Kajal Agarwal, Tapsee, Prakash Raj, Pradeep Rawat, Sridevi Vijayakumar, Rahul Dev and Brahmanandam; Director: P. Ramesh Verma; Producer: Ganesh Indukuri; Music Director: S. S. Taman; Camera: Chota K. Naidu; Rating: * 1/2