Thursday, March 3, 2011

NIFTY NEXT- Nifty EOD 03 Mar 2011 Technical Analysis

Nifty-Spot today traded well within our Trading range of 5471-5520 and closes at 5536.20 after making days’ High at 5570 and testing the low at 5568 with a gain of +0.3%. It has formed a White Candle on Daily Price Chart.   VIX has gained to 22.96. Avg. VI of Calls & Puts are seen rising today. As per VS of Nifty  -Options , 5500 will acts as a strong support and 5800 as a Strong Resistance. Technically, Nifty  is in Up-Trend, as all major momentum indicators ie. MACD, RSI, Fisherman Index & Spearman are rising on daily price chart. As per Our NNI-Nifty Next Indicators , which declined today with  increase in volume, suggests that Nifty will slide from higher levels of 5604.

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