(1) Nifty Chart for 08/10/2010 ::

Engulfing Bearish candle pattern with volume..Some factors increasing patterns importance are..
1)The first day has a very small real body and the second day vary large real body
2)A patterns appears after a protected or very fast move
3)Heavy volume on the second day
4)The second day engulfs more then one real body..
complete aggressive sell signal at higher level, for aggressive trader..
Still Nifty hold or close at very important level 6120. NSI also close near strong support zone 40/30.. Conservative trader sell only below breakdown of 6107 and NSI below 40/30..
For 8th Oct. intraday trader watch one level 6120. Above 6120 momentum seems up,below 6120 momentum turn down.. Our strategy for 8th Oct. If Nifty open flat and move up watch highlighted resistance and sell at high near resistnace (S.L 6199) buy in deep (S.L 6107).. If Nifty open gap down watch strong support 6092 and support zone 6060 to 6066, if hold support then change strategy as buy in deep (S.L 6061) sell at high (S.L 6120).. Resistance for up move at 6129/6139/6148/6175/6199.. Supports at 6107/6092/6066/6061..