Wednesday, June 22, 2011

NIFTY NEXT- Nifty EOD 22 June 2011 Technical Analysis & OutLook For 23 June 2011

Nifty-Spot today(22 June 2011) slides from its higher levels 5310.50 , as per our Morning Post and ended at 5278.30 , Flat with formation of a Black Candle. VIX has declined by -5.85 to the level of 20.83. On Technical Price Chart, major momentum indicators are yet to confirm the Uptrend. Only PZO is moving ahead to support the Bulls.  PCR-Vol has declined by – 2.44% to  +080 level. As per our NNI-Nifty Next Indicators which gained by + 178%, suggests that Nifty will trade with Positive Bias on 23 June 2011.Nifty Has now Intraday resistance 5317/5369 for Tomorrow,23 June 2011. As per Technical Chart, Nifty has long Term Support at 4758 and Resistance at 5420.

Editor’s Note : This Article is written by Vina S Singh, Senior  Chartist at , which is a Technically Based quant Research Firm, M/S Durgapur Holdings in Durgapur, West Bengal, India that covers all Stocks, trades at NSE. We use Ami Broker Charting Software. You can reach the Chartist here .

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