1. The Long term charts are showing weakness ,Medium term and Short term are firmly down.
2. Any upmove in the near future may be capped at 5700 level. But if trades above it can go to 5950 levels
3. Targets for down move in short term may be 5300 levels ,in medium term 5200 levels and in long term below 5200 levels.
4. In short term the International Markets are showing corrections along with USD getting strong .Movement of USD can effect the short term moves.
5. Near 5200 levels a review of the positions can be done.
6. Any upmove should be used in cutting out longs and adding new shorts but fresh look to be taken at each level especially the Volume associated .
7. New longs to be entered only on closing above 5dhema and bullish alignment of 5-20ema .
8. Larger Time frame trend to be taken into account while Trading any short term TF.
Trade with the Trend ,any counter trend positions should be light and fast.
Check the Long term view : http://aar-vee.blogspot.com/2011/01/long-term-analysis.html
Check the Medium term view: http://aar-vee.blogspot.com/2011/01/medium-term-analysis.html
Check the Short term view: http://aar-vee.blogspot.com/2011/01/short-term-analysis.html