Tuesday, November 16, 2010

NIFTY NEXT-Nifty EOD 16 Nov 2010 Technicals


Nifty-Spot today (16Nov 2010) ended with Huge Decline of -2.2% to 5988.70.It has formed a Bearish Engulfing Candle on Daily Price Chart. All Major Momentum Indicators are In Sell-zone. NNTF is also Down and moving South-ward. As Per NNI- Nifty Next Indicator which is down by -62% in today’s Trading session , is now Trading at mere +4.23% along with increase in Open Interest and Volume. We are in Short-Term Correction Phase till NNI is Positive and A sudden Bounch-Back is possible at any Moment.6001 is very important for Nifty. Let the Index to Trade and Hold the 6001 in Next Trading sessions.   

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