Price went down upto 5535-( 5530 expected) and was resisted at the Red median Line several times with high of 5593 and fell down to a low of 5514 and closing at 5541.Expecting further downmove tommorrow.
Projections for tommorrow_11.05.2011
Drawing the red pitchfork with todays high at the median line, price tested the Upper medain line at 5580 and was a good point to short Nifty.Price did fall down and expecting it to go down till 5475-5470 levels.Consolidation at those levels / breakdown will make Nifty go down swiftly to the lower targets projected earlier.
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