Tuesday, April 5, 2011

NIFTY NEXT- Nifty Trading Range for 05 April 2011


Nifty-Spot today (05 April 2011) may Trade with huge Volatility with Flat to Positive bias within the Range of 5896-5931.VIX is now trading at 20.06.VS of Nifty Options, suggests that 5900(Nifty-Fut) will act as a Strong support for higher target of 6200-6400 in next 3 months. Technically, nifty is in overbought zone. All momentum indicators are in over-heated zone. As per our NNI-Nifty Next Indicators, which gained by marginal +9.5% on 04April 2011, along with increase in Volume and Traders’ Hope, suggests that Nifty Will Trade with Positive Note & May see Selling from higher levels. 5896 will act as a strong support for Nifty on  intraday basis on 05 April 2011. Telecom Stocks may see huge selling on 05 April 2011.

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