(1) Nifty Chart For Next Week & for 10/01/2011 ::

Nifty :: Weekly price near 5^th breakdown level.. Made an Engulfing bearish candle pattern with bearish Three Line Strike candle pattern, candle structure turns more bearish if next candle open below last candle low.. Now watch important level 5945 in next week, as far as weekly close below 5945 momentum seems weak..

Till then for intraday treading on 10^th Jan.

NSI near extreme low, volume not expanding even after strong weekly bearish candle pattern.. Short term indicators in oversold region… Be careful in shorting at lower level as far as Nifty hold 5888/5883.. If Nifty turn down and break 5883 next short term corrective buy level and strong support zone 5836 to 5813.. Our strategy for intraday treading watch 5916, if Nifty turn up and break 5916 momentum turn strong up to 5945 then use buy in deep strategy, if Nifty turn down but hold support 5883 then again use buy in deep strategy but with strictly stop loss 5883, if Nifty break 5883 then wait till next strong support level 5852/5836/5813, and again use buy in deep strategy with strictly stop loss 5813. Overall use only buy in deep strategy and avoid to short at low.. Resistance for up move at 5916/5945/5986/5992.. Supports at 5888/5883/5852/5836/ 5813..