6.01.11 Nifty continues its move down

60 min chart

Price moved further down and has hit the 23 .6 % Fib line support within the lower channel.A bounce at these levels upto UMLH is a possibility.If the price is resisted at 6120-6135 at the UMLH and falls another short term swing down is expected.

Daily Chart 6.01.11

Next levels expected is 38.2 % R @ 6000 levels and further down 50 % support @ 5950 levels