(1) Nifty Chart & Levels For 31/01/2012 ::

Nifty :: Body Gap Down, Bearish Hangman Candle pattern conformation, wipeout three day up move in just one day. Finally sharp cut in NSI after long bearish divergence and almost touch lower bottom support area.. All indicator turn down from overbought zone.. Bull-Bear Power indicator turn down and enter in flat zone.. Looks like pure short term top formation.. But advance indicator NSI indicate Nifty may take rest near bottom strong support area.. Watch first strong support 5058, and below it support zone 5014 to 5010 and last one 4990 to 4980, any time bounce possible from this area, be careful at lower level, in manipulated foreign investor option driven market. Our strategy for 31^st Jan, avoid sell near support area in correction, wait for up move and sell near resistance with S.L 5162.. Resistance for up move at 5115/5130/5149/5162.. Supports at 5076/5058/5038/5014/5010…