Thursday, February 3, 2011

NIFTY NEXT-Nifty EOD 03Feb 2011 Technical Analysis

Nifty-Spot today ended at 5526 with a gain of +1.7% with formation of a Bullish Engulfing Candle on Daily price chart. Major Technical Indicators Spearman , MACD & OMO Trade System has given positive Cross-over on Daily price Chart. Today’s gain is not supported by increase in volume. As per Volatility Skew of Nifty Options , Puts are increasing while Calls are declining, indicates tomorrow 04 Feb 2011, nifty may again See Selling .As per NNI-Nifty Next Indicators which increased by + 20% along with  nominal increase in Traders’ Interest & Decline in volume, suggest Tomorrow on 04 Feb 2011, Nifty may see a Bearish Trading Session. 

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