![](http://img31.imageshack.us/img31/6070/niftymulltitimeframemov.png)
Traders trading intraday, can have look at higher timeframe too with them, to have a multitime frame analysis with them
As seen from above chart, see how Nifty Spot got resisted at 50 SMA, and same weakness as seen from 5min chart, with bearish candle formations, and long tail candles,a sign of supply coming in at 5720-25 levels
In hourly 200 SMA is still rising, and with 50 SMA falling, is it already in consolidation phase,here moving averages are playing a role of catching prices, since prices got too much run away from moving averages
We will look at prominent support zone in area 5540-60 zone