Nifty-Spot today(23 June 2011) ended at 5320 with a gain of +0.80% with formation of a Bullish Engulfing Candle on Daily Price Chart.VIX has declined by -6.70% to 19.50 level. On Technical Price Chart, Major momentum indicators are showing Strength. PZO & Buyer-Seller Force is moving Upward. As per our NNI-Nifty Next Indicators, which declined by – 187% to the level of -3.75%, indicates that Huge Shorts are created at Higher levels & Nifty will Trade with Positive to Negative Bias on 24 June 2011. We may see the Selling from Higher levels, say 5366. Reliance & Tata Motor will be Traders Pick for 24 June 2011.
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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