as on 12/01/2010

nifty is making ascending triangle pattern on high Tf 60 min, thus on breakout we can see tgts of 5000.its pattern na dcan fail too on breaking the trend lines thus formed

mkts sliding,, down irrespective of respecting any indiactor / or supportswould now like to exit some holdings in the pull back which can hit 4950/4970..only if mkt trades above 5040 i would be long in small qtyrest would like to short and buy puts unless if eod system triggers buy only if mkt closes on monday above 4950..!!!but overall view,,, is mkts tough to cross teh high / highs,,,so less qty / less profit in longs,,,and would go for puts or sell calls,,

two views

if nifty crosses 5040 then w ecould see agin previuos... res high and seocnd if doensot hold 5040 then 4600 jaws are open