Monday, May 16, 2011

NIFTY NEXT- Nifty Trading Range for 16 May 2011


Nifty-spot will Trade today (16May2011) with negative to Flat Note within the Range of 5492-5562.VS of Nifty-Options are suggesting that Nifty has strong support at 5500 and Resistance at 6000 by July 2011 expiry. VS Data Changes Daily. PCR- Vol  has increased by +1.15% to 0.89 level. VIX has also declined in last Trading sessions. On  Technical Price Chart, Nifty is Ready to move upper side. As per Our Leading  Indicator, NNI-Nifty Next Indicators, which has increased on 13 May 2011 by +415% along with Traders’ Participation, indicates that Nifty will Trade Negative to Flat or Positive note. Nifty has strong support at 5500 and buying will emerge from its lower levels. Bulls will have Upper hand, it Nifty-Fut Trades above 5617. 

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