Market Behavior with Intraday Nifty Analysis

 Hi, on 13/4/2012 market have consolidated till 1:30 and after that it had a sudden drop after breaking key supper of 5300. let see how we should have got the move.
Entry zone has been marked in red:
Reason for entry:
1. Price broke the previous days high.
2. and the break is with biggest bar.
3. Break is supported by increased volume.
4. After the break of support, price consolidated below support know becomes resistance.
5. and also price breaks the days low - which is sign of bearish.

so what do we want do, just go " SHORT "