NIFTY's Intra-day Movement
NIFTY's Volatile Movement
NIFTY's 1 month Movement
Today the session was huge bloody. I had suggested yesterday that this downwards are only filling the gap, but i had given 5896, the last dead line for NIFTY Spot and and said that if NIFTY Spot touched and crossed this level then exit from all long position in NIFTY. So what happened, it happened as i said. As NIFTY broke this level as just became panic and touched 5883.60 and broke the Sensitive Stop Loss 5885 on Intra-day Basis, which had suggested on 30 Dec 2010. The Major Support on Jan Expiry Basis for NIFTY Spot is 5846.53, Which had also suggested on 30 Dec 2010. Possible upside if NIFTY Spot will above 5976.46 and also sustain.
If we see the Volatile movement of NIFTY Spot shown in the chart above, its clearly indicates that NIFTY has not only filled the gap between 5986 to 5176 but also come to downward.
If we see the 1 month movement of NIFTY Spot, Its clearly shows that NIFTY making bearish trend and creating the panic situation. If we see the premium of NIFTY Call option of 6000, 6100, 6200 of March Expiry, its clearly shows FIIs and DIIs are making long position in NIFTY in March. So, it is happening just opposite what the people are thinking that from Feb Market will be under downtrend. Big Players are reversing this thinking.
We will see more panic situation in the next week expecting NIFTY Spot can go up to nearer to 5800 but will not break the 5800. Means 80 - 85 Points down from the current level on the basis of trend analysis, but i am expecting 5846.53 is major support for NIFTY Spot so NIFTY can take huge support at this level and try to hold this level on closing basis. If NIFTY cross 5976.46 then we can expect some positive sessions.
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