Wednesday, March 9, 2011

NIFTY NEXT- Nifty EOD 09 March 2011 Technical Analysis & OutLook for 10 March 2011.

Nifty-Spot today ended at 5531 with a modest gain of +0.2% and its slides from  its high of 5563 to low of 5477 & simultaneously Recovered as per our Pre-Market Analysis. It has formed a Hammer on daily price chart. As per VS of Nifty Options, Mid-Term Target for nifty is 6000 with 5500 as Strong Support .On Daily price chart, Spearman has given positive Signals along with other major momentum indicators. As per Our NNI-Nifty Next Indicators, which declined by -27% is now at 3.25 in today’s Trading session along with increase in Traders’ Hope with  Volume, suggest that Nifty may see some Short Selling on 10 March 2011 and covering the Gaps in later half  trading sessions. ICICI Bankwill be Bears Target on 10 March 2011.
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