Tuesday, October 11, 2011

NIFTY NEXT- Nifty EOD 11 Oct 2011 Technical Analysis & OutLook For 12 Oct 2011

Nifty –Spot today (11 Oct2011) ended at 4974.35 with a fall of -0.10% with formation of Black Candle on Daily price chart. Nifty has been moving Up with High Volume & current Candle is Down with huge volume indicates weakness and probably end of the Recent Up-Move. As per our NNI-Nifty Next Indicators which declined by -36.50% is now trading at +4.25% with Fall in Volume by -1.70%, indicates that Nifty will Trade with Negative Bias on 12 Oct 2011. Nifty has now Strong Support at 4953/4904 & Resistance at 5014. Closing Below 4904 will mark the start of Negative Trend for Oct 2011 Expiry series.
Editor’s Note : This Article is written by Vina S Singh, Senior  Chartist at  www.niftynext.com , which is a Technically Based quant Research Firm, M/S Durgapur Holdings in Durgapur, West Bengal, India that covers all Stocks, trades at NSE. You can reach the Chartist here mail@niftynext.com . We are Using AmiBroker Charting Software(V-5.42)  & AmiTool-PowerScan.

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