NIFTY Levels - for 22nd Oct 2012:

1) Nifty Future closed @ 5687 down by 50 point. A GAP down is expected due to US market.. but Overall it seems a BEAR TRAP for Coming month.

2) Pattern:- Head & Shoulder Pattern in Progress in Daily charts.  The neckline is at 5640. Closing below this can give move of 150 pts

3) Nifty Futures SR Levels/ Zones for Intraday :- 

            Resistance @ 5694-5698, 5723-5730, 5757-5766, 5784-5788, 5835-5843

            Support     @ 5670-5664, 5647-5639, 5597-5593

4) Open Interest:-  Highest OI in 5800 Call (106 lacs) & 5600 Put (67 Lacs). OI reduced in Puts, so this week may see a breakdown below 5600.

5) Daily TF        :-      

    ->  Bollinger  :-        Consolidation

    ->  RSI          :-        Up Trend

    ->  Stoc (14,3,3)  :-  Bearish

6) 30 min TF      :-      

    ->  Bollinger  :-       Downtrend

    ->  MACD (9,19,6) :- Bearish

    ->  RSI          :-        Downtrend

    ->  Stoc (14,3,3)  :-  Downtrend

7) NF Gaps to be Noted:

    ->  5280  - 5313

    ->  5457  - 5526

    ->  5554  - 5575

BUY : If 5630 not broken with Close, BUY tomorrow..

SELL: If 5630 broken with close below it.