NIFTY NEXT- Nifty EOD 16 June 2011 Technical Analysis & OutLook For 17 June 2011

Nifty-Spot today (16 June 2011) ended at 5396.75 with a Huge Fall of -50.75 Points(-0.93%) on the Day of RBI ups repo, reverse repo rates by 25 bps each. It has formed  Dozi pattern on 15 Mins Technical Chart and Broken the Support level  5404.Major Momentum Indicators are in Bearish zone. Vix has increased by +2.72% to the level of 19.66. 5112.80 is now the Strong Support for Nifty in Mid-Term.  
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RBI ups repo, reverse repo rates by 25 bps each

Continuing with its anti-inflationary stance, the Reserve Bank of India, in its mid-quarter policy review, hiked repo and reverse repo rates by 25 basis points each. This takes repo to 7.5% and reverse repo to 6.5%. CRR, however, has been left unchanged at 6%.
Source http://www.moneycontrol.com/stocksmarketsindia/
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Nifty Next- A Bulls Trap Candle Formed on 1 Min Nifty-Future Price Chart on 16 June 2011

We have just find a Bulls trap Candle at the Nifty-Fut 1 Mins Price Chart around 5434 levels. Most of the Retails Traders are Caged here.

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