Nifty is indecisive...

The choppy action today is not very convincing to me to confirm the end of the down move.

Daily chart :Todays price low reached the 50 % range between Median line and lower median line This level- 5907 was very close to the 5887 level expected.The swing low can be confirmed only after tomorrows price move.The STS indicator is still heading down and not reached oversold levels.Till then down trend holds.

60 min chart:

The price is still below the descending green pitchfork with resistance at 6025-6050 levels.

Drawing a blue minor pitchfork from previous wave pivot points,lot of up and down action near the median line is seen.

15 min chart:Prices are contained within the recent minor pitchfork descending down.The 50 sma / 100 sma are overlayed to verify trend .On prices moving above MA's , resistance and support levels 6150 and 6050 will have to be used to close short trade and initiate long trades on breakout above 6150 levels.

For 19.11.10 :Probability for reversal based on global cues will meet resistance at 6050 / 6150 levels.Will have to watch the action around these points.Will hold shorts till 6150 levels and go long above that range.