We can observe for the Nifty on the daily charts, that the markets have broken below its strong support at 5300 levels. We can also notice that the markets are having its next support at 5000 levels, which could be tested in the short term. Simultaneously, we can notice on the monthly charts that the markets had fallen in January with heavy volumes, which indicates that there could be some more weakness in the short term.Therefore, we can expect our markets to trade in a lower range between 4900-5200 levels in the short term.

The BSE CONSUMER DURABLES Sector has closed at 4737 levels last week, which is (-7.13%) below its previous week''s close. We can also notice on the daily charts that we have a minor support at 4600 levels, which is likely to be tested in the short term. Hence, we expect this sector to move slightly lower to 4500 levels in the short term. We recommend a sell in Videocon Ind. and Titan Ind. in this sector.

The BSE BANKEX index has closed at 10159 levels last week, which is (-6.96%) below its previous weeks close. We can also notice on the daily charts that we have a strong support at 9600 levels, which should hold in the short term. Hence, we can now expect this index to move slightly lower to 9800 levels in the short term. We recommend a sell in Kotak Mahindra Bank and ICICI Bank in this sector.

The BSE AUTO index has closed at 4741 levels this week, which is (-5.24%) below its previous weeks close. We can also notice on the daily charts that we have a minor support at 4500 levels, which seems likely to be tested in the short term. Hence, we can now expect this index to move lower to 4400 levels in the short term. We recommend a sell in TVS Motors and Hindustan Motors in this sector.