Nifty for 06122010: Nifty closed in this week at 5992 showing a bullish candle on weekly chart. OK. FII data is positive in cash/F&O. Global cues are flat to positive. But, the last two days of the week is consolidation at higher levels. And the nifty open interest is down by 1.13 lakh shows that the steam is less now. The market is at resistance zone.

Hence, if nifty falls below 5950 the markets may be in bear grip for the medium term (which may lead to long term) until nifty corrects 20% from top. This may take to 2 months or more. But, if nifty breaks resistance zone 6050-6070 we may see 6250 surely. We may think for a down swing at the top levels.