Wednesday, January 26, 2011

NIFTY NEXT- Nifty Jan 2011 Series Expiry Target / Nifty EOD 25 Jan 2010 Technicals


Nifty-Spot today ended with a loss of -1.0% at 5687.40 after making high of 5801. It seen huge Selling from higher levels as per Our Analysis (Please Refer @ http://www.niftynext.com/2011/01/nifty-next-nifty-trading-range-for-25.html ). It has formed a  Bearish Engulfing on Daily Price Chart. As per Volatility Skew of Nifty Options, 5600 PE for Feb & 5900 CE for Feb 2011 seen huge increase, suggest a possible Trading Range for Nifty In Feb 2011.
On Technical Grounds, MACD has seen some week-ness  while W%R has given clear Buy Indications on Daily price chart. As per our NNI-Nifty Next Indicators, which declined by -70% with increase in Volume & Traders Interest, suggest a Weakness on Nifty on Jan 2011 series Expiry Day. 5640/5600 will be the strong support for Nifty-Spot on Nifty Jan 2011 series Expiry. 

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