Nifty 31-1-2011

• Another week of continued selling to result in breakdown of 200 DMA and lead the markets to closed below all the major supports.
• 5380 is the first important support for the market 200 DMA around 5620 levels would now act as resistance level for the nifty.
• Today market is expected to trade in the range of 5538 – 5680.
• Hold nifty Sell with stop loss 5620 on closing basis..