Saturday, October 23, 2010

NIFTY NEXT-Nifty EOD 22Oct2010 Technical Analysis

Nifty-Spot Today(22Oct2010) ended with a decline of -0.6% to the level at 6066.05 after hitting day’s 6121.10 in first half of trading session .I t has formed a Black Candle on Daily Price Chart. The  major Momentum Indicators MACD & Short-Term Trading Index  todays turns upward while ADX  turns downward. Our NiftyNextTrendFinder also given negative divergence on daily price chart. As Per our NNI-Nifty Next  Indciator which decline by -17.50% is now trading at +23.77% along with decline in open_interest and Volume suggest a Negative Trading session on Monday and the Good News is that We may see a Bounch-Back from lower levels in coming days, surprising every Trader. Our Short & Mid term Trend is Positive for Index is still intact. 

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