NIFTY:03 May'12:Intraday updates - watchout @ 5189

As of now gap has not yet filled up and not likely to fill up. So this is generating a resistance @ 5225 for intraday move on 30 min and 60 min charts. 


 38.20% from 5189 (of move from 5279 to 5189) = 5225
As long as we are staying below 5225, this market is for sell on rise for intraday. Break below 5189 will be decisive. 


I am expecting those break below 5189. If it happens then we can expect levels like 5170 then 5155. A billion $ question is that if it is coming today. 


Let us see.


Have a nice day
Praveen Kumar