Tuesday, March 8, 2011

NIFTY NEXT- Nifty EOD 08 Mar 2011 Technical Analysis

Nifty-Spot today ended as per our Morning Technical analysis within the Range of 5430-5502, with positive gains of +1.1% and ended at 5520.80 . It has formed a Long White Candle on daily price chart. On Technical Front, major momentum indicators like RSI , Spearman  are Rising . VIX has also declined by -6.1% to the level  of 23.67%. Avg Implied Volatility of Calls are started Declining.  As per VS of Nifty Options, 5500 will act as a Strong Support  for Higher Target of 6000 by May 2011. As per Our NNI-Nifty Next Indicators, which gained by + 28% along with Traders’ Bias, but with a fall in Volume, suggests that Nifty will Trade with Positive Bias on 09 March 2011. Reliance will Perform well on 09 March 2011.

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