Thursday, October 14, 2010

NIFTY NEXT- Nifty EOD 14 Oct 2010 Technical Analysis

Nifty-spot today ended   at   6177. 35 with   a decline of -0.90% after hitting the Day’s  Low at 6157.90. It has seen huge Selling in afternoon hours   mainly  in Reliance &  SBI. Nifty has formed a Black Candle on Daily price Chart pattern. The Short-Term Trading indicator is still moving upward with Rising MACD, citing the undertone is still bullish with huge FII buying interest for the coming days.
On Technical Front, Major Momentum Indicators ECO & UCI still   in negative zone. Our NNI-Nifty Next Indicators today declined by -45.50% and it is now trading at +8.50% along with   decline in Open-Interest and volume, suggest a Negative Trading session for Tomorrow.6500 Call & 5900 Put has seen huge Traders interest today.6187.95 is the immediate Resistance for Index to be bullish.

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