NIFTY - The Last Hope and Support is ....

NIFTY(5396) -  On 16th Oct 2010 post, hinted here when it made a top of 6284(click here) 

 and

12th Nov 2010  post with Nifty chart, confirmed here when it perfectly topped out at 6339(click here).

The above mentioned last two posts, I gave,

"MY UTLIMATE TARGET IN DOWNSIDE WAS 5300+"

Yes as expected, yesterday it attacked the mentioned down target, when it made a low of 5369.

 What next ?

THE LAST HOPE AND SUPPORT IS 5300_5200

 for entire year 2011.

So Nifty should bottom out here for this year 2011 and upside rally going to start within few weeks

after some consolidation

In case, If it not happen and it close below 5200 two to three consecutive days, then

MY ULTIMATE TARGET IN DOWN SIDE 4200_3700.

It may come in one wave or step by step with pull backs.