Wednesday, October 6, 2010

NIFTY NEXT-Nifty EOD Technical Analysis 06 Oct 2010

Nifty Today  ended at 6186.45 with a gain of +0.70% after hitting high of 6223.40. It has formed a White Candle on daily price chart. RSI (14) is now @ 79.05 in Extremely Over-Bought Zone. All major Momentum Indicators ie  . PPE, CMI & MACD are in Positive zone. ECO is set to give Positive Cross-over. Short & Mid-Term is moving upward on Daily price chart. As per our NNI-Nifty Next Indicators, which is declined by -23.0% is now at the level of +7.50% along with decline in Open –Interest & Volume , suggest a Flat to Negative Trading  Session for nifty on tomorrow. 6165 will be the strong Resistance for Nifty on Intraday  Basis.

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