Wednesday, April 6, 2011

NIFTY NEXT- Nifty EOD 06 April 2011 Tchnical Analysis & OutLook For 07 April 2011


Nifty-Spot today traded well within  our Morning Calls(5898-5940) and  ended  with a fall of -0.3% to 5891.75 & recovered from its lower levels with formation of a Small Black Candle on Daily Price charts.VIX is now at 20.36 %.As per VS of Nifty –Options, Nifty has Strong Support at 5900 and hoping for Higher level of 6400. PCR has declined by -2.84%.On Technical Chart, momentum indicators are in Over-Bought Zone. As per our NNi-Nifty Next Indicators , which declined by marginal -10.75% Along with marginal increase in Traders’ Hope and Decline in Volume, suggests that Nifty Will Trade Flat to Negative Note on 07 April 2011 & Bounch-Back is almost impossible tomorrow on 07 April 2011.Nifty has Strong Support at 5864 and Resistance at 5899 on 07 April 2011.

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FII Data Updates for 06 April 2011


(Rs. in Crores)

Reporting DateEquityDebt
Gross
Purchases
Gross
Sales
Net
Invest.
Gross
Purchases
Gross
Sales
Net
Invest.
06/04/20114917.903355.101562.801334.201033.30300.90
05/04/20119929.905842.604087.30295.20541.90-246.70
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NIFTY NEXT- NIFTY Trading Range for 06 April 2011


Nifty-Spot today (06April 2011) may Trade with Negative to Positive Note within the Range of 5898-5940.VIX has declined  to 19.9%. On Technical Price Chart, Nifty is in  extreme Overbought Zone. All Major Indicators are in Bullish & Overbought Zone. As per Our NNI-Nifty Next Indicators which declined by  -32% along with increase in volume and Traders’ Hope, suggests that Nifty will Trade with Flat/Negative to Positive note on 06 April 2011. Closing above 5857 will be Bulls Party for 6013 by 07.04.2011 & below 5880 will  mark the down Journey. Accumulations Sesa Goa & Coal India is advisable at the CMP.

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