(1) Nifty Chart & Levels For 30/01/2012 ::

Nifty :: Three Gap Up, Black Hangman bearish candle with volume.. One by one Nifty cross all important barrier resistance, looks like new bull market start and bottom already created.. But as per technical terms, it may be still pending.. NSI continuous given multiple negative divergence at top and turn down from high.. All Indicator are in extended overbought region.. Bull-Bear Power indicator still in buy mode.. No way to buy or give long commitment at higher level in such kind of overbought extended manipulated rally, Avoid buy at high or in gap up(As per last week Elliot Wave posting Nifty already in wave target zone)… In intraday treading on 30^th Jan. stuck with levels and go with trend, watch one important level 5194... Above 5194 momentum seems up for buy with S.L 5194, below 5194 momentum turns week for sell with S.L 5194.. At high watch strong resistance zone 5239 to 5278, and at low watch strong support 5162 to 5130.. Resistance for up move at 5214/5239/5256/5278.. Supports at 5194/5174/5162/5154/5130..