Nifty-Spot today(17 June 2011) ended at 5366.40 with a fall of -0.60% with formation of a long black candle on daily price chart. VIX has increased by +3.1% to 22.27 level. On Technical Price Chart , major momentum indicators like TAIO, Twinggs Money Flow & Buyer-Seller Force Index are moving Southward. PCR-Vol has declined by -8.99% to +0.81% on last Trading session. As per Our NNI-Nifty Next Indicators, which gained by +162% along with Decline in Volume & PCR-Vol, suggests that Nifty will Trade with Negative Bias on Monday 20 June 2011.It may open to Positive side and will see gradually sliding on 20 June 2011. Nifty –Spot has now Strong Support level at 5334.
Editor’s Note : This Article is written by Vina S Singh, Senior Chartist at www.niftynext.com , which is a Technically Based quant Research Firm, M/S Durgapur Holdings in Durgapur, West Bengal, India that covers all Stocks, trades at NSE. We use Ami Broker Charting Software. You can reach the Chartist here mail@niftynext.com .
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