NIFTY Views - for 31st July 2012:

As Expected, Nifty confirmed Friday Gap up was a Bear Trap !! so market seems short term Bullish.

1 Gap Filled Today, TGT 5225 nearing. Close 50% position here & then trail SL.

In Monthly Time Frame:  Down Trend

In Weekly Time Frame:  Down trend

Bollinger :- Consolidation

RSI         :- Down trend

In Daily Time Frame: Down Trend

Bollinger:- Side to Down trend

RSI        :- Uptrend

Support @ 5020 ; Resistance @ 5135

Hourly Chart : UP trend

Remaining Gaps:

1) 5345 - 5236

2) 5306 - 5267

3) 5205 - 5167 (FILLED)

4) 5043 - 5077

BUY:  Bought above 5170, TGT 5225, SL 5170

SELL: Sell on Rise in 5225- 5240 Zone as per Daily Time Frame (as Weekly Trend Bearish) !!