Tuesday, April 19, 2011

NIFTY NEXT- Nifty EOD 18 April 2011 Tchnical Analysis & OutLook For 19 April 2011


Nifty-Spot today (18 April 2011) ended at 5729.1 with a fall of -1.6% after hitting days’ high at 5897 with formation of  Black candle  and Three Inside Down Candle Pattern  on Daily Price Charts. All major momentum indicators are now in bearish mood. As per Nifty-Options Data & VS Analysis, it suggests that Nifty-Futures may break 5700 levels in coming days.PCR(O/I) is now at 1.17% , seen a fall of -10%.VIX increased to 22.45% by +4% today. As per Our NNI-Nifty Next Indicators, which declined by  marginal -5% along with increase in volume and Traders’ Hope, suggests that Nifty will Trade with Flat to Negative note and Bounch-Back is possible from its lower levels around 5680(Nifty-Fut Level ).Nifty-Spot has now Strong Support at 5632 on daily price chart.

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