Nifty=Spot today (19 Jan2012) may Trade with Flat to Negative Bias within the Range of `4931-4994. As per Our NNI- Nifty Next Indicators, which has seen decline in last trading session on 18 Jan 2012, along with Volume suggests that Nifty will Find Resistance at higher levels ` 4994 and may further decline to its lower levels without any Recovery. As Per Technical Price Chart, Major Momentum Indicators like BSF & W% R are in Over Bought Zone, while Trend Score has Turned Red on Daily Price Chart, indicating a Bearishness for Nifty. Avoid Longs is Advisable for Today.
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. You can reach the Chartist here mail@niftynext.com . We are Using Ami Broker Charting Software ( V-5.50 rc2 ) & Ami Tool-Power Scan.
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