Thursday, October 7, 2010

NIFTY NEXT-Nifty EOD Technical Analysis 07 Oct 2010

Nifty Today (07 Oct 2010) ends at 6120.30 with a speedy  slide  of -1.1% from the days’ high 6199.45.It has formed a Long Black Candle on Daily price chart. VIX also increased to the level of 22.45%. Major Momentum Indicators I e UCI, UCO, MACD turns Negative   on EOD Chart. The Short term indicators also turns negative today with RSI (14) at 70.02 level.  Our NNI- Nifty Next Indicators today gains by +1.70% with decline in Open Interest and  increase in Volume .NNI is now at +7.55%, suggest the Short Term Trend is still has Bulls Power and Nifty Index may recover from its lower level  at 6100 on Tomorrow  to Hit the Upper price level 6190.

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