One thing is clear if we close below 4800 then it is a cloud breakdown as per ichimoku weekly charts. And also the Cofirmation of 5/13 Week EMA crossover. All the above factors indicates a long term downtrend confirmation if Failure to Close above 4800 and also above 5000 by tommorow(As the week ends tommorow!)
Related Readings and Observations
5/13 EMA Weekly Crossover likely to happen in Nifty – 3 Feb 2010
The Original Path of Nifty is not yet reversed – 20 Jan 30
Next GANN Support for Nifty – 21 Jan 2010
Nifty Long Term GANN Charts – 20 Jan 2010
Are writter of 4800 PE Feb Series getting loser?
I too watching that out… let see how the day ends