Nifty update for 01/04/2009

If nifty trades above the level of 3052-3055 then will lead to target of 3116-3120 levels.But if it trades below the level of 3018-3015 then will lead to target of 2977-2980 levels.

We see a falling trend line in the RSI,so expect the nifty to lead to 3116-3120 levels.