Tuesday, July 5, 2011

NIFTY NEXT- Nifty EOD 05 July 2011 Technical Analysis & OutLook For 06 July 2011


Nifty-spot today (05 July 2011) ended at 5632.10 with a fall of -0.30% with formation of a Black Opening Maruboz Candle with Falling Wedge Pattern on Daily price Chart. Major Momentum Indicators are now in Over-Bought  Zone. A- D Ratio is now 0.62. VIX has increased to 18.25 long with Fall in PCR_Volume by -10.08% to the level of + 1.16%. As per Our NNI-Nifty Next Indicator, which increased by + 29.60% along with increase in Volume, suggests that Nifty will Trade with Positive Bias and We may see Covering from its lower level on 06 July 2011.Nifty has now Strong Support at 5520 and Resistance at 5646.
Editor’s Note : This Article is written by Vina S Singh, Senior  Chartist at  www.niftynext.com , which is a Technically Based quant Research Firm, M/S Durgapur Holdings in Durgapur, West Bengal, India that covers all Stocks, trades at NSE. You can reach the Chartist here mail@niftynext.com . We are Using AmiBroker Charting Software(V-5.40).
 Call NiftyNext # +91 880 2230 836 For Paid Calls or Email at MAIL@NIFTYNEXT.COM Know More About Your Packages For Best Performance in Stocks Markets @ http://bankniftynext.blogspot.com

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