Nifty Premarket View

Option reading index for today is (-) 1.63 rise from last trading figure of (-) 7.65 suggests mild selling pressure.

Std.Param
Price / Tenkensen weak bullish cross. TS, KJ, Span Lines trending flat. Upside Resistance at 5562, 5676. Support at 5490, 5392.

Short Param
Bullish Price cross over Tenken, Kijun. Possibility of bearish kumo crossover reduces. Upside Resistance at 5562, 5675. Support at 5450 levels.

Giving below Indian Interest Rate across various maturities with Yield curve. 
Data courtesy: Business Standard.

Premarket View - 03.01.2011

Option reading index (+) 0.35 down from last trading figure of (-) 1.03 indicative of more selling pressure but still buying support is there. 138 basis point reduction in ORI, Expansion in Volatility suggests swings touching 1.5 Std Deviation. 

Bank Nifty EOD 16-12-2010

Weekly
on Std Param, Price below tenkensen and closed above kijun. Underlying cloud lines shows gradual uptrend.
on Short Param, Price below tenken and kijun. Span A & B line at 11450 and 11090. Oscillators in OS and weekly shows uptrend may pick up soon.
Daily
on Std. Param, Bearish tenkensen / kijun crossover effect from November 22 continues flat. Further price closed below kijun and clouds on Dec 06, 2010. Down trend continues without any indication for resuming of uptrend. Cloud lines show flat range moves.
on Short Param, bearish tenken / kijun cross continues. Chikou span trending up. Oscillators neutral.

Overall, Bank Nifty may continue to be in range bound movement with uptrend picking up during week closing onwards...