Wednesday, July 6, 2011

NIFTY NEXT- Nifty EOD 06 July 2011 Technical Analysis & OutLook For 07 July 2011

Nifty-Spot  today (06 July 2011) ended at 5625.45 with a minor fall of -0.10% with formation of a Inverted Hammer and Falling Wedge pattern on Daily Price Chart. AD Ratio is 0.58.VIX is at 18.34.Major Momentum  indicators are in overbought zone. Buyer-Seller Force Index is moving upward while RSI is coming down. As per Our NNI-Nifty Next Indicators, which declined by -38.50% along with Fall in PCR-Vol suggests that Nifty will see Selling on 07 July 2011.5604/5570 is now Strong Support for Nifty.  

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