6-5-2009 trading shows the continuation of weakness in RSI daily charts. Nifty faced resistance at 3715 and falls one hundred points, finally closed at 3625 (-37). FII data, F & O data, Global cues are all positive as of now.

As we see continuation of weakness in RSI and divergence in hourly charts there is further chance of fall. But to convert this fall as major fall some indications as per option writings will be required. This may happen with in two days???. Till then trade for small swings only.

Nifty levels: 3520-3720. Go long above 3660 and short below 3660 stop loss for both will be 3660.
Markets may go up further, may be to the level of 3880 before a major fall that to 3520-3350 only. (In the 3 rd week)