Nifty...S....6165/6140...R...6202/62206252

Daily trend turned positive.Now 6202 is importana as it is 61.8 % retracement of fall from 6343 to 5972.Today is third day of this rally and there 2 gap ups. If third gap up then there will be exhaustion and profit booking is expected.

Nifty...S..6028/6000..R...6093/6130/6158

Nifty bounced as expected.Now today must trade above 6065 to continue the rally.Today's close is important. If close above 6066 then there will be strength. Close above 6123 will turn it positive in short term.If TP 6137 hits then it will become strong. Lets see what happens around 6130 level. 6158 and 6202 are 50 and 61.8 % levels of the downmove from 6343 to 5701.

Nifty....S...5970/5961/5946....R.....6001/6030/6070

Nifty yesterday opened gap down but with some bullish momentum and maintained it till mid session. But later on weakness seen.There was new low but 5946 is not tested. Yesterday's close was with 7th red candle.Nifty is oversold bounce is expected.Today if closed above 6070 then there might be rally for another 1/2 days. At least PAUSE for downtrend is expected today.Let's see. Keep watch on OI of 6000 PE and 6100 CE.