Wednesday, June 15, 2011

NIFTY NEXT- Nifty EOD 15 June 2011 Technical Analysis & OutLook For 16 June 2011

Nifty-spot Traded well within our Moring Trading Note on 15 June 2011 and ended at 5447.50 with a huge fall of -1.0%. It has formed a Long Black Candle on Daily Price Chart.VIX has increased by +3.40% to the level of 19.14. PCR-Vol  also declined by -1.11% to the level of +0.89%. On The Technical Price Chart, Major Momentum Indicators, W%R, RSI and Buyer-Sell Force are Trading in Bearish Zone. As per Our NNI-Nifty Next Indicator, which declined by -78 % along with increase in volume, suggests that Nifty Will Trade with Negative Bias. 5410/5388 is Strong Support for Nifty and 5478 will act as a Strong Hurdle to Cross. ICICI Bank will be Eye-Catcher on 16 June 2011.

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