Market outlook for next week

From elliottwaveanalyst com -

Short term Outlook (06/02/2006) -

It was suspected that a short term correction might complete on Friday. It is now being suspected that it either completed in the closing stages on Friday or will do so right in the opening session on Monday. Post this, there should be a rally lasting days. 2912 is a critical level which should not get violated for this view to hold.

This in short presents a low risk trade setup. Going long in opening trades with a stop loss at 2912 is minimum risk but potentially wonderful returns.
In my view the correction may be still deeper.May be upto 2870-80 and then the trend may reverse.The various charts indicate that still weekness may continue to these levels.

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