(2) Nifty Chart & Levels For 23/02/2012 ::

Nifty :: After Last Engulfing bullish candle, an Engulfing bearish line candle pattern with volume.. NSI sharp turn down and touch multiple bottom support as breakdown.. All indicator turn down from extended overbought region.. First conformation of correction with outside day bar and volume, but as we say in yesterday post, we are in manipulated money driven market. Be careful in extended correction or in gap down open near strong support zone 5460 to 5428, as per advance indicator NSI, any time bounce possible from low.. Watch three important levels on 23^rd Feb. first strong support zone 5460 to 5428, second at high resistance 5511 and 5548.. For intraday small swing treading, watch 5511, above 5511 momentum seems up for buy with S.L 5491, below 5511 momentum weak for sell with S.L 5511, and at high above 5511, watch resistance 5524/5548, if Nifty move up and face resistance near this two levels then change strategy as sell ONLY at high with small and strictly S.L 5548.. Resistance for up move at 5524/5548/5580/5601.. Supports at 5491/5483/5460/5448/5428..