nifty opened on slightly down moved up and then crashed during the later part of the day to close at 2954 a fall of around 90 points. Todays movement of nifty is pointing towards bearishness. So in the comming days further down sides are not ruled out. In my weekly up date on sunday i have indicated that if we are forming a triangle then the upside is capped at 3050 and there after the fall will start. It appears that we might have compleated "c" wave of a triangle and we might have just started the "d" wave which has all the chances of moving towards 2500 levels. I have also indicated in my weekly update the nifty will face resistances at 3100 level where the down ward sloping line of last 11 months exists. As the Nifty has failed to pass above 3100 is pointing towards that the bearish sentiment still exists and also that down sides of 2200 are sitll not ruled out. But in the first case the immidiate support is at 2860 ( 20 day EMA) and any break below it will pave way for 2500. Another point to be noted is that if you can see in the chart below, nifty is moving in a slowping channel and is currently placed at support level any breach of this level will indicate termination of current up trend and a good shorting opportunity with stop loss on moving above the trend line. So watch our for trading opportunity tomorrow.