Tuesday, May 3, 2011

NIFTY NEXT- Nifty Trading Range for 03 May 2011

Nifty-Spot today(03 May2011) on RBI-Review Policy Day may Trade with Huge Volatility within the Range of 5655-5710.VIX has increased by 6.6% to 20.88. On Technical Price chart, Nifty is in bearish Zone. Major momentum indicators are  in selling Zone. As per our NNI-Nifty Next Indicators, which gained   huge on  02 May 2011 along with Traders’ Hope & decline in Volume, suggests that Nifty will Trade with Positive Bias on 03 May 2011 & will bouch-back from its lower levels around 5660.Banking Sector will be Top Trader Sector on 03May 2011.Nifty Has now Strong Support at 5636 and Resistance at upper level at 5743.

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