Premarket View - 10.12.2010

Option reading index is (-) 4.74 rise from last trading day figure of 0.90 indicative of buying support at lower levels. The rise read with enhanced volatility at 1.28 indicate the range may touch 2 std deviation.
McClellan Oscillator value (-) 85.47 is near to bottom suggesting short term recovery failing which will see new lows.

Ichimoku Std.Param
Price below clouds. Bearish. See Post dated 26.11.2010(click here) cautioning long term bearish outlook. Major support comes at 200 DMA. Oscillators are in sell mode. If the trendline from recent low of 5690 holds, we can see mild recovery from this levels.
Ichimoku Short Param
Tenken / Kijun bearish crossover again. More pain seems to be in store as the trend change (sort of relief rally) is expected only from Dec 18 for brief period as again bearish clouds crossover seen on 28 / 29 onwards. 
Trade with caution.