Monday, March 28, 2011

NIFTY NEXT-NIFTY EOD 28 March 2011 Technical Analysis & OutLook for 29 March 2011


Nifty-Spot today Traded well within our Morning Note Range of 5655-5695 and closes at 5687.28 with a gain of +0.6%. It has formed a  Long White Candle on daily price chart. As per VS of Nifty Options, 5700 level is very crucial for Nifty to Cross to scale new high of 6200 by June 2011 Expiry. Technically, Spearman & Swing 350   are in overbought Zone, making the  Index Week.As per Our NNI-Nifty Next Indicators, which Declined by -7.0%  along with decline in Volume and Increase In Trader’s Hope, suggest that Nifty will  See Selling on 29 March 2011. Tata Motor is Weak on Daily  Charts.

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