For 20-04-2011.

A flat day, was looking like Bears are taking rest with out fear, because today's Open Interest was supporting strongly Bulls group, but they failure to take advantage of it.
In day chart Nifty Future closed below 7 ema 3 days continuously, very much bearish.
Its a sell on rise in weekly format also.
Look at these two charts below ---



These two charts are same day chart, one zoom out snap, and other is close snap.
Now you can see clearly that which three vital Chanel NF breached and trading below it closing basis.

Now what next---

If NF can trade above 5760, then can try to go towards 5768 and 5781.
Nearest up side resistances are at 5769-5781 -5782-5787-5793-5797-5800.

If can cross 5781 and if can trade above 5787 , then can go towards 5797.
Now if it cross above 5787 and again fall down below 5787 and trade below 5781, it can go down towards 5755 and 5746.
If can trade below 5746 then next support is at 5719 and 5715.
Cross below these two and stay below 5713 can create panic towards down side .

Down side target is 5687-5664-5627.
And below 5627, next target levels are 5619-5606.

Lets see.







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