(1) Nifty Chart & Levels For 09/05/2011 ::

Nifty :: Hope all you remember our 5^th trend line breakdown post.. At that time we conform top formation and its is, still Nifty treading below last high.. Now today we post 6^th long term trend line breakdown.. Most probably, in coming day’s, after short corrective up, Nifty heading towards 4700/4500/4000 levels. Conformation required for breakdown of last low 5177.. Till then wait and watch and for short term..

Exactly bounce from low as per our Friday post. Made an Bullish Body Reversal candle pattern, but with low volume.. NSI exactly turn up with positive divergence.. Short term indicator moving up from oversold region.. Now as far as Nifty hold 5500 level use buy ONLY in deep strategy with strictly and small S.L 5472.. Once again we repeat, be careful, in corrective rally, avoid to give long commitment at higher level in intraday gap up or extended rally.. Resistance for up move at 5569/5579/5604/5625.. Supports at 5523/5500/5491/5472..