Monday, January 10, 2011

NIFTY NEXT-Nifty EOD 10 Jan 2011 Technical Analysis


Nifty-Spot today ended  in RED Zone as per our analysis at 5762.85, down  by -2.4% with formation of a Long Black Candle on Daily Price Chart. All  major momentum indicators are in Sell –zone. Nifty Next Trend Finder is now in Down Trend. As per NNI-Nifty Next Indicators which is down by -56.50% in today’s Trading session along with increase in volume and open-interest , suggest that Nifty on 11 Jan 2011 will trade with Negative note.5800 CE & 5700 PE has seen huge increase in  Open- interest.5800 is now  Strong Resistance for Nifty now. If Nifty breaks the level of 5753, then we may see the level of 5604 in very short-Period. Banking Sectors will Perform negatively on  Tomorrow(11 th Jan 2011).

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