Wednesday, December 29, 2010

NIFTY NEXT-Nifty EOD 29Dec2010 Technical Analysis

Nifty-Spot today ended with a huge gain of +1.10% at 6060.35 in line with our analysis. It has formed a Long White Candle  on Daily Price Chart. All Major Momentum Indicators are now in Buy-Zone. NNTF again moved Upward today. Volatility Skew is Up for Calls whereas  Down for Puts. It  is Highest for 6200 CE Jan11 @ 17.97 and lowest for 6400CE Jan11.It indicates a Positive move for the Index in coming days. As per Our NNI-Nifty Next Indicators which declined by -6.80% today , it is now trading at +51.0%, along with huge increase in volatility and marginal increase in Open-Interest. Our Nifty next Target 6240 is still Intact for Short Term.

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