Nifty View for 30.03.2012

Nifty today opened gap down 50 points and then closing the gap at the day end but again giving a negative close for the day.This is the lowest close of this fall at 5178.85 and with a lower low of 5135.95.The fibo fan from top shows the nifty being restricted at the 61.8% level.The level of 5192 on the spot will determine the trend.Above this level we may see some recovery.If not then we may head downward again.The potential up and down targets are shown in charts.Intraday Traders can look at the levels giving below on spot  nifty to trade on 30.03.2012

Spot Nifty levels for intra-day trade on 30.03.2012
No trade between 5161 and 5197(to avoid whipsaws)
Buy above 5197 with SL of 5177 
for targets of 5215-5233(breakout  level on the upside,add positions) 5251-5268-5286-5304-5322-5340.
Sell below 5161 with SL of 5181 
for targets of 5143-5125(breakdown level on downside, add positions)5107-5089-5072-5054-5036-5018.
Happy Trading !