Monday, October 4, 2010

NIFTY NEXT- Nifty EOD 04 Oct2010 Technical Analysis


Nifty Today(04 Oct2010) closed at 6159.45 with a modest gain of +0.30%.It  loses all its gain from Higher (6222.10) level s due to heavy selling in  Big Index Based Stocks. Nifty has formed a   Shooting  Star Candle Pattern on Daily price chart. Major Momentum Indicators I e PPE, MACD and Short & Mid-Term Indicators are still in Positive while W%R & Stochastic has given negative cross-over on daily price chart. As Per our NNI-Nifty next Indicator which is down by -11.20% and it is at 6.50%, with increase in Open-  Interest and Decline  in Volume, suggests  a mild decline in Nifty on Tomorrow (05 Oct 2010).6400 Call & 6200Put has seen huge Traders Interest today. Nifty may BOUNCH Back from its lower level  tomorrow ,likely around 6135 level. Our Nifty Target 6317 is still intact for this week.
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