NIFTY-SPOT Today(18 April 2011) may Trade without any clear Directions with huge volatility within the Range of 5806-5841.VS of Nifty-Options suggests that Nifty- Fut has strong support at 5800 and may move upto 6300 in next June 2011 Expiry. On Technical Price chart, Nifty is in extreme over-bought zone. Major momentum indicators are showing weakness. As per Our Leading Indicator, NNI-Nifty Next Indicators, which declined by – 58% on 15 April 2011 along with less volume and Fall in Trades’ Bias, suggests that Nifty will Trade Flattish note and 5800 will act as a Strong Support.
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