(1) Nifty Chart & Levels For 16/02/2011 ::
Nifty :: White Doji candle with White Doji Star Reversal candle pattern suggest possible top reversal pattern as far as Nifty stay below 5506..More conformation required, watch NSI and short term indicator.. If both support this pattern and turn more down and Nifty break 5400 level, then we see correction up to gap area 5320 to 5340.. If Nifty break 5506 then next strong resistance and sell level in between 5549 to 5564.. Till then our strategy for intraday on 16th Feb. Watch one level 5476, above 5476 momentum seems up, below 5476 momentum turn down.. Trade accordingly for buy or sell above or below 5476 for small swing with next support, resistance strictly stop loss.. Resistance for up move at 5506/5534/5549/5561/5564.. Supports at 5476/5450/5422/5408/5400..