Intermediate short term bottom for the market is placed at 3100 and major resistance on the upside is at 3600(Nifty levels).

This is not a normal bear market but a failure of world economy. Traders and investor both should avoid bottom fishing at these levels as more pain is left and bottom is yet to be formed. Sitting on cash is best strategy for now.

Upside rallies should be used to exit leveraged long positions and to build fresh shorts.