05-12-2008

This is for education purpose only and may not be useful for trading

Markets unable to hold above 2800.....this was mentioned as a possibility yesterday
due to the RSI resistance on 15 min/ hourly charts.

Also mentioned that the 2 day swing has also given a buy...and that "this may not be reliable"....so far it is still holding but high chances of a whipsaw.

Intraday charts (5 min) show supports at 2670-80...watch this level on Monday. Any decisive break will invite a lot selling to at least 2500 levels.

On the upside, markets will remain rangebound till we cross 2850-70.