Nifty Intraday Trends and levels for today 6 May 2011

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 Nifty was on bear trend last day and closed at 5459.Today the first resistance for nifty is at 5491-94 level.Next resistance is at 5525-29 level.Next resistance is at 5558-62 level.Next resistance is att 5577-83 level.Next resistance is at 5611-15 level.Next resistance is at 5632-37 level.Next resistance is at 5659-63 level.Next resistance is at 5685-88 level.Next resistance is at 5706-09 level.Next resistance is at 5725-29 level.Next resistance is at 5748-52 level.Next resistance is at 5788-93 level.Next resistance is at 5820-23 level. Next resistance is at 5847-51 level.Next resistance is at 5892-97 level. On downside first support is at 5427-24level.Next support is at 5396-91 level.Next support is at 5350-45 level.Next support is at 5320-17 level.Next support is at 5302-00 level.So nifty again back in bear zone .So today the bear sentiment will again sustain if nifty goes below 5425 level and no long below 5500 level.Positionally no long until nifty close above 5600.

NIFTY SUPPORT AND RESISTANCE(POSITIONAL)

Positional Immediate support for NIFTY is 5433. Positional Resistance for NIFTY is 5592 5603 5642 5690 5695 5737 5763 5767 5801

NIFTY ANALYSIS- OSCILLATOR

Oscillator Analysis The oscillator is showing SELL signalShort Term Oscillator Analysis-The signal is SELL but NIFTY in oversold level.