Tuesday, April 26, 2011

NIFTY NEXT- Nifty EOD 26 April 2011 Technical Analysis & OutLook For27 April 2011


Nifty-Spot today(26 April2011) traded well as per our Technical Analysis and recover sharply from its low of 5791.55 and ended flat at 5868.40 with formation of a Hammer on Daily Price chart. It has formed a  Bullish Butterfly pattern on Hourly Chart when it was trading at Day’s Low. VS of Nifty Options, indicating a 6300/6400 is likely to touch by July 2011.PCR-Vol has declined by – 10.28% to 0.96 level. VIX has increased to 21.71. On Technical Charts, Nifty is now showing Strength. Major Momentum Indicators are gaining strength. A Hammer has formed on Daily Price chart. As per our NNI-Nifty Next Indicator which gained huge on 26 April 2011 by +59%, suggests that Nifty will be Positive on 27 April 2011. Bank & Reliance Group Stocks will perform well on 27 April 2011.

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