Wednesday, April 6, 2011

NIFTY NEXT- Nifty EOD 06 April 2011 Tchnical Analysis & OutLook For 07 April 2011

Nifty-Spot today traded well within  our Morning Calls(5898-5940) and  ended  with a fall of -0.3% to 5891.75 & recovered from its lower levels with formation of a Small Black Candle on Daily Price charts.VIX is now at 20.36 %.As per VS of Nifty –Options, Nifty has Strong Support at 5900 and hoping for Higher level of 6400. PCR has declined by -2.84%.On Technical Chart, momentum indicators are in Over-Bought Zone. As per our NNi-Nifty Next Indicators , which declined by marginal -10.75% Along with marginal increase in Traders’ Hope and Decline in Volume, suggests that Nifty Will Trade Flat to Negative Note on 07 April 2011 & Bounch-Back is almost impossible tomorrow on 07 April 2011.Nifty has Strong Support at 5864 and Resistance at 5899 on 07 April 2011.

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