(1) Nifty Chart For 05/01/2011 ::

Nifty :: Black candle with volume.. As per our last two post Nifty exactly correct from high.. NSI and indicator both turn down from overbought zone.. Overall momentum turns negative, but still close above channel breakout.. Be careful in shorting at lower level, short only below breakdown of 6116.. For 5^th Jan watch one level 6134 above 6134 momentum seems up, below 6134 momentum down up to 6124/6116.. Watch strong support zone 6124 to 6116, may be bounce possible from this support zone.. Our strategy in intraday, watch given support zone and if Nifty hold this support zone or important level 6134, then buy in deep with strictly stop loss 6116, sell at high.. If Nifty move up watch strong resistance zone 6180 to 6210, and if face resistance at high then change strategy as sell at high (S.L 6210) buy in deep..Resistance for up move at 6164/6180/6198/6210.. Supports at 6134/6124/6116..