Tuesday, February 22, 2011

NIFTY NEXT- Nifty EOD 22 Feb 2011 Technical Analysis


Nifty-Spot Today  traded within our range of 5438-5472 and ended at 5469.20 with  a decline of -0.9% with formation of Bearish Harami Candle on Daily price chart. It finds support at our lower level 5438.Avg. VI for calls are increased compare to Puts. VIX has increased to 26.85 by +7.8% today. As per Volatility Skew of Nifty Options , 5400 will act as a Strong Support & 5900 as resistance .Technically Nifty is in Up Trend now. As per our NNI-Nifty Next Indicator which declined by -82% is now at +3.9 % along with increase in volume, suggest a Negative Trading session on Tomorrow 23Feb 2012. 5459 will be crucial level for Nifty Index on 23 Feb 2012.

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