Thursday, October 28, 2010

NIFTY NEXT-Nifty EOD 28 Oct2010 Technical Analysis(Short Covering Tomorrow)

Nifty-Spot today(28Oct2010) ended at 5987.20 with a decline of -0.4%. It traded mostly in positive zone but  in last Hour seen huge selling.Niftyhas formed a Black Candle onDaily price chart.All Major Indicators are In Sell Zone.Our NNI-Nifty Next Indicator which gained by +219%,is now trading at +17%, with increase in volume and decline in Open Interest.Nifty-Fut has seen huge short-covering.NNI is suggesting a Nifty Level 6039 on tomorrow(29 Oct2010).
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