Stock Market Forcast for the Week (9th - 13th May '11)

Nifty futures crashed last week after breaking the important support level of 5700 and lost more than 250 points signifying a change in trend.  Now short term resistance on the upside is 5600 beyond which it might see some up move of 50-100 points but the trend still remains bearish. Next major important support levels on the downside is 5350 which if not broken Nifty can bounce back otherwise one can expect a big correction if that level is breached up to the levels of 5250,5170,5050.