NIFTY LONGER TERM

NIFTY CMP  5500 on short term breaks 5700 and then 5600 turn negative on longer term  parrallel channel giving support and resistence to nifty shown in red and green arrows nov 2009 lows to 2011 high and low channal breakout happend in sep 2010 and mkt rally to 6300 in dec same breakout line given support to mkt in 2011 mkt back so same channal value now upper side 6000 downside 5300  till 5300 holds we expect longer term bullish  
medium term one trendline of 2011 lows coming around 5450(+ - 20 points) if this holds we are back to test 5900-6000 area otherwise back to test longer term support 5300-5350