Nifty-Spot today ended with a marginal gain of +0.6% at 5333.25 with formation of a Shooting Star on Daily price chart. It has slided from its days higher levels of 5477 during Budget Speech on 28 Feb 2011. Avg VI for calls has declined more to Puts today. As per VS of Nifty Options, we have find that 5300 will act as a string support in near term and 5600 as a resistance in next 2 months. Technically, RSI is in oversold zone, whereas MACD & Inverse Fisher has shown weakness on daily price chart .As per our NNI-Nifty Next Indcator, which falled by -49% , is now trading at +1.00% along with increase in Volume and Traders Hope, suggests that Nifty may Trade with negative Bias on 01 March 2011. Closing & Trading above 5317 is must for Nifty on 01Marh 2011 to be Bullish.
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