11-5-2009 data : Markets were fallen and closed on the 10 day ema line at 3554. F&O data 3600 calls and 3500 puts were written. FII data a little bit short but not strong shorts. Nifty future a small addition means no major negatives. Global cues weak. RSI and Stochastic are showing reversals from over bought zone means this fall may continue.
Bolinger band down level 3250 = 50 day ema line.
Parabolic sar reversal only after 3475 breakout. If Nifty breaks 10 day ma line 3555, nifty falls further. As per one support line market may take support at 3460 and go up.

Conclusion: Though there is no major build up for shorts, that may happen even today. If nifty breaks 3450 then we may see nifty up to 3250-3280. If nifty takes support at 3450 then we may see new highs immediately.