S&P CNX Nifty for the week 18 July 2011 to 22 July 2011.

For the next week if the benchmark index breaches the 5555 mark on the downside, a short term bearish trend will follow, whereas if it manages to hold above the 5648 mark with good volumes on a closing basis, a fresh upside will be seen. Chances of a short term upside cannot be ruled out in the immediate term if the Nifty trades above the 5595 mark in the opening few hours of trade next week.