Nifty-Spot today (01 July 2011) ended at 5627.20 with a fall of -0.40% and it has formed a Long Black Candle. Nifty is Still In Rising Sun Pattern (Bullish Phase). VIX has declined by -1.1% to the level of 18.21. On Technical Price Chart, Major Momentum indicators are in Bullish Zone. Buyer-Seller Force Index and Schaff Trend Cycle indicator are rising Upward. PCR-Vol has increased by + 34.44% to 1.20 level. As Per our NNI-Nifty Next Indicators, which gained by + 48.70% along with increase in Traders Hope for Trade in Bullish Trend, suggests that Nifty will Trade with Positive Bias on 04 July 2011. If Nifty-spot Trade and ends above 5636.15 on Monday 04 July 2011, then this UpTrend will be Intact. Reliance is good on Technical Chart.
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. We use Ami Broker Charting Software. You can reach the Chartist here mail@niftynext.com .
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