Mitesh Thacker's top five trading strategies for the coming week
=> The Nifty opened the week on a negative note and registered an intra-week low of 5970.05 levels. With Friday's up move, the index witnessed a high of 6199.95 levels. Eventually the Nifty closed at 6187.30, with a gain of 80.05 points for the week ended May 18.

In this week Nifty witnessed a volatile session, but in the end managed to close above its crucial resistance level of 6110. Going forward, the Nifty ...is likely to head towards 6230 levels, sustaining above which the index can rally up to 6300 / 6338.50 (an all-time high level).

Traders should note that the index has witnessed almost 700 points (almost 12 %) rally in the last five weeks. The momentum indicator is also trading near the overbought zone. Hence, any supply pressure from 6230 levels would lead the Nifty to correct up to the levels of 6110 - 6095 followed by 5925 levels