Tuesday, October 19, 2010

NIFTY NEXT- Nifty EOD 19 Oct 2010 Technical Analysis(Bears are Killing)

Nifty-Spot today (19Oct2010) closes at 6027.30  with trip-off from its higher level of 6127.05 by -0.80% with formation of a Long Black Candle on Daily Price Chart. All New Age momentum Indicators UCo, UCI & MACD are now in Sell Zone. Today   on EOD  price chat we have seen a interesting fact that after a long back(Say 20 days), Our NNTF-Nifty Next Trend Finder Turns negative. As Per our NNI-Nifty Next Indicators which decline by -60.0% is trading at +11.50% along with decline in Open-Interest  & Increase with Volume.VIX is also increased by + 3.9% to the level of 23.23%. All indicates a Bearish Trading session for Tomorrow (Wed 20Oct2010).Nifty-spot now has strong Support at 5997.

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