The markets closed flat for the second consecutive day with bouts of volatility witnessed throughout the day. The S&P CNX Nifty closed down -9.85 points at 5541.25, down 51 points from the day's high. 

The Nifty futures closed and settled finally at 5545.80, down by 12.85 or -0.23 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5500 else above resistance level of 5595 it would be in an upward trend. 

Sustenance above the 5500 levels will see the NIFTY gradually head higher towards the 5650-5687 levels. (Expected time zone 72hrs)

Above 5594, NIFTY may see 5669, 5706…Easily…? 

Yes, Everybody knows of Thursday of last week given to BUY Nifty fut. 5450 in small quantities…! (Your Stop loss is your bought price)

Small Risk Opportunity in ADVANCED (Base of Hourly oscillators) : Selling levels 5611-5629 and Short Term Targets will 5536-5476, if trades 5630 above for 10minitues…then Exit from Short Position

(Please, Note that we are long with nifty future as mentioned above paragraph, yet we try to book profit 5584 above)

Keep Patience of Accurate single and our levels

(New update will be below 5440 only)

Last (10-05-2011) closed@5541 (-10 points)

last high@5591 low@5514

weekly high@5909 low@5443

5DMA@5528

20DMA@5729

50DMA@5635

200DMA@5753 

5-DAY RSI 33 AND 14-DAY RSI 40. 

US Dollar index recover from 73 now at 74.87.

NYMEX crude hovering at 100 now at 102.22.

Dow future trading 70point green.

Mixed trend seen.

Disclosure: Yesterday Nifty missed 6-Points our pre market selling levels 5611-5629(High 5606) and started to fall as given targets 5532-5500(low 5517)

Profit: 73 Points profit

What for Today…?

Now, just watch 5534-5541(Support)

(Trading above this level will be upper move to test 5583-5597)

Your Stoploss for this opportunity will be as 5529 and Targets are mentioned above

(Suppose to trade or open below this support will sell signal for targets 5500-5478)