Tuesday, May 3, 2011

NIFTY NEXT- Nifty EOD 03 May 2011 Technical Analysis & OutLook For 04 May 2011


Nifty-EOD Chart
                                                            Nifty-Spot 15 min Charts

Nifty –Spot today(03 May 2011) reacted negatively to RBI Mid Term Review Policy  and ended at 5565.25 with a huge decline of -2.4%. It has formed a Long Black candle on Daily Price chats.Nifty has now closed below its 100 DMA of 5692.90, marking a bearish note. It has also broken its mid-term level of 5629.Major Momentum Indicators, Spearman  & Swing 350 are trading in Red Zone. PIR Daily is Trading much below its weekly Value. RSI-14 is also Trading below its EMARSI-9. On 15 Mins Intraday Chart, it is showing some strength for tomorrow (04 May 2011) Bounch-Back. Our Intraday Picks Titan (Sell ) hammered well by bears on 03 May 2011.

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