For 17-05-2011.

Nifty Future took support at broad down-side Chanel once again.
And NF not break Fridays low also.
Tomorrow can expect a bounce back from here or few points low side.
So for up side, i am thinking two types of EW-count ------

EW first count is very bullish for very short term, 1-2 days.
And alternate count is ---
Its a bearish count, with few up side momentum.
In this count, NF can move up few points up to 5532-5549-5567 and fall again.
In this count, NF can cross 5540, but should not stay above 5556 for more than two hour.

Its now a complicated situation....and have to see next movement, so that we can understand
the current phase.

Lets see............





All charts and levels are for my own trading purpose,supports,resistance and targets. Others can use it for educational purpose.