Nifty Analysis for 31stJan2011

ONLY A CLOSE ABOVE 5803 WILL BRING WEEKLY IN BUY MODE
ONLY A CLOSE ABOVE 5679 WILL BRING DAILY  IN BUY MODE
OTHERWISE HIGH RISK TO REWARD TRADE LIES IN SHORTING NIFTY.
OPTION DATA SUGGESTS THAT MARKET IS INCLINED IN FAVOR OF BEAR.
THIS OPINION WILL CHANGE IF NIFTY MANAGE TO CLOSE ABOVE 5587. 

Trade Level  for 31st Jan2011
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BUY  @5643-5663-5700-5727-5760-5803-5857
SELL @5564-5544-5507-5480-5447-5404-5350


VOLUME PROFILE
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(5493-5514)-5600-(5630-5640)-5680-5725-5745-5763-5772-5785-5798-5810-5821 
MAXIMUM VOLUME PARTICIPATION IS SEEN AT THESE LEVEL FOR NIFTY.
THESE LEVEL CAN PLAY THE ROLE OF IMPORTANT SUPPORT AND RESISTANCE.


Important EMA 
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5ema   5620
13ema  5708
21ema  5769
34ema  5828
55ema  5868
89ema  5855
144ema 5767
233ema 5592


Market profile 
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VAH - 5594, POC - 5548, VAL - 5506


PREVIOUS MONTH NIFTY EXPIRY
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30-Dec-10--6101.85--41.50--0.68%
27-Jan-11--5604.30--83.10--(-1.46%)


MOVING AVERAGE PRICE CHANNEL(http://pricechannelsystem.blogspot.com/)
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We will initiated long position if nifty manage to close above 5775.


J10 TRADING SYSTEM(http://perfecttradingsystem.blogspot.com)
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We will initiated long position if nifty manage to close above 5679.


VOLATILITY BREAKOUT METHOD(http://perfectbreakout.blogspot.com)
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31st Jan NIFTY : MIN 5460  MAX 5563 RANGE 52


Daily and weekly level 
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NIFTY WEEKLY =>ABOVE  5806BUY)
NIFTY DAILY  =>ABOVE  5679(BUY) 


Open Interest Study
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As of now ,
Strong Support   @5400 
Strong Resistane @5800