Tuesday, November 23, 2010

NIFTY NEXT-NIFTY EOD 23 Nov 2010 Technical Analysis


Nifty-Spot today(23Nov2010) ended with a Huge Decline of -1.30% at 5934.75 after Hitting  Days’ Low at 5824.95.VIX also increased by +16.7% to  the level of 23.76 today. Nifty has formed a Bearish Harami on daily price charts. Centre of Gravity has given an Early sign of Direction Change on Daily price chart. Where as all Well –Known Momentum Indicators are yet to come out from the Negative Zone. As per our NNI-Nifty Next Indicators which is now Turned Positive is Trading at +20.10%, gained by 20% along with Huge increase in Volume and Marginal Open-Interest, Suggest a Bounch-Back From Lower Level or A Positive Trading Session for Index. Nifty will move higher levels if It Trades at &Around 6001 and Holds tomorrow. Index based stocks will perform well tomorrow.

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