Friday, January 7, 2011

NIFTY NEXT-Nifty EOD 07 Jan 2011 Technical Analysis

Nifty-spot today falls into bears hand  and has seen huge fall of -2.4% and ended at 5904.6. It has formed a Long Black Candle on Daily Price Chart. NNTF-Nifty Next Trend Finder also today Turned negative today on daily basis. MACD, Schoff Cycle also turned downward, indicates a Trend Reversal. Volatility Skew for Nifty Call options are declined while it increases for Puts, also suggest a Bearish Trend in Coming days ahead. As per Our NNI-Nifty Next Indicator which declined by -58.0%  with huge  increase in volume and nominal increase in open-interest , does’t gives a Clear Trend. Nifty May find support around 5850 on Monday (10 Jan2011)

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