(2) Nifty Chart & Levels For 31/01/2011 ::

Nifty :: Bullish momentum already vanish. One by one Nifty break all short term bullish support level.. As per chart we plot falling channel in Jan 1^st week, on Friday 28^th Jan. target of channel bottom achieved.. NSI & short-term indicator are in still positive divergence.. Avoid shorting at low, may be sharp short term corrective bounce possible, if Nifty hold low 5460 and given close above 5516.. Below 5460 watch multiple strong support zone in between 5400 to 5350.. Till then on 31^st Jan. Watch level 5460/5516.. And trade accordingly above or below these two levels for small swing..