Monday, May 2, 2011

NIFTY NEXT- Nifty Trading Range for 02 May 2011

Nifty-Spot today(02 May 2011)  will trade with flat to Positive Note within the range of 5758-5787. On Technical Price charts, all major momentum indicators are showing weakness. Swing 350 is moving downward. PIR Daily is trading below its weekly value. As per our NNI-Nifty Next Indicator, which declined by -82% along with increase  in Traders’ Trading Bias, suggests that Nifty will Trade Flat to Positive note  and may see Selling at higher levels. 5758 is strong support for Nifty. Trading & Closing Below 5758 will tang the Index to 5638 in coming days. Bulls-Bears Fight will be on around 5781. 

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