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Friday, May 06, 2011

(1) Nifty Chart & Levels For 06/05/2011 ::


Nifty :: Body Gap Down bear candle but again with low volume.. All you know we conform mid term correction near top, most probably after today’s breakdown Nifty and Sensex both enter in long corrective zone, still some conformation required., will update time to time here..

Till then for short term, with 8th lower low, NSI with positive divergence and short term indicator are in extreme oversold region no way for shorting in gap down. Wait for multiple bottom at low and enter long with low strictly and small stop loss.. Currently Nifty enter in consolidate region, any time short term corrective bounce possible.. Resistance for up move at 5485/5517/5541.. Supports at 5444/5424/5396/5374..

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