Nifty update for 11-03-2010

Nifty Trend based on Option Analysis : Down
The probability of going up is 43.37 % and going down is 56.64 %

Intraday trading as per Elliot Wave

Go Short at / below 5137.39. Stoploss at 5142.53. Target 1 is 5109.37.
Go Short at / below 5126.69. Stoploss at 5142.53. Target 2 is 5104.65.

Intraday Trading based on Volatility

Buy at / above 5114.72 for following Target and stoploss
Target 1 : 5118.06 Target 2 : 5131.07 Target 3 : 5144.08 Target 4 : 5170.1 Target 5 : 5183.11
Stoploss : 5092.05

My Trading Style

Nifty's pivot point is 5115.

If Nifty is staying above 5120 then first target is 5141 and second target is 5160. After rise if Nifty unable to stay above 5141 then short can be initiated at 5138 with stop 5145.

If Nifty is staying below 5112 then first target is 5091 and second target is 5070. After fall, if Nifty stays above 5091 then long can be initiated at 5095 with stop 5088.

Please comment on my post

Best of luck.