Aug 13th to Aug 17th '12 - EOD Analysis

In my previous post  http://analyzestockmarket.blogspot.com/2012/08/nifty-aug-10th-to-aug-18th-12-eod.html  I had mentioned that NIFTY will see support between 5280 to 5296. It occurred almost the same way and re-bounced once 5294 was hit at the bottom. More buying was seeing making NIFTY come back

Even Parabolic SAR is still showing an uptrend sign which indicates that NIFTY's correction of close to 80+ points is still irrelevant and no need to panic yet

Do not short NIFTY now as we see 5425 looking possible on charts