Thursday, April 7, 2011

NIFTY NEXT- Nifty EOD 07 April 2011 Technical Analysis & OutLook For 08 April 2011


Nifty-Spot today  traded well within our Trading Range of 5886-5907 and ended at 5885.70 with a fall of -0.1%.It has formed a Small Black Candle on daily price chart with Bearish Bat Pattern.PCR declined by -0.73% to 1.36%. VIX is now at 20.32.Major Momentum Indicators, CG,Spearman & CCI has given negative signals on daily price chart. As per Our NNI-Nifty Next Indicators, which declined by _11% along with  decline in Traders Hope & Volume, suggest that Nifty will Trade  Flat to Negative note on 08 April 2011.Nifty has Strong Support levels at 5870/5834 on 08 April 2011.
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