NIFTY at interesting JUNCTURE !!!!

NIfty is poised at an interesting juncture. The Current Month low of 5760 is a Long Term Support and any break of the levels 5760-20 wouldlead to a heavy downfall. Holding 5760-5720 levels is very very important if any upmove is to take place. Few Charts:

MONTH LOG CHART:

The Chart is Self - explanatory.

WEEK CHART:

 

DAY CHART:

 

HOUR CHARTS:

 

DAILY VIEW: NIFTY closed below 100 &200 DMA. Currently 5858 - 200 DMA would act as resistance. If surpassed, then the next resistance is 5914 - 50 DMA. Breakout above 5914 and EOD close above 5915 would put a pause to the downmove.

MONTH VIEW: If Nifty closes tomorrow (End of Month EOM) below 5858 - Month 5 EMA then Nifty would fall to 5750-20 levels intitally and break below 5720 would drag Nifty easily upto Month LEMA at 5650 levels.

SHORT TERM VIEW: POSITIONAL SHORTS TO BE HELD WITH SL AT 50 DMA - 5920.