Nifty Analysis 2ndFeb2011

Nifty Weekly will be in buy mode above 5735.
Nifty Daily  will be in buy mode above 5606.
Till then we are in downtrend.


Other activities suggests bearishness like ............
Short Build UP =>  Nifty Open Interest for February stands at 2,22,96,550 up by 18,41,300 with decrease in price. 
Bearish =>         small % of unwinding seen in 5600PE,5700PE,5800PE.
Bearish =>         large % of call witing seen in 5300CE,5400CE,5500CE 


Positive Divergence is seen in nifty weekly chart(@ the bottom of blog).We may see some bounce today.
Then we will head downward if Open Interest study remain same.5300/5320 is coming soon.Lets see........nifty movement should confirm.



Trade Level  for 2ndFeb2011
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BUY  @5539-5557-5590-5613-5642-5680-5728
SELL @5470-5452-5419-5396-5367-5329-5281


VOLUME PROFILE
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5415-(5454-5473)-5487-(5506-5513)-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   5527
13ema  5642
21ema  5715
34ema  5787
55ema  5839
89ema  5838
144ema 5759
233ema 5590


Market profile 
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VAH - 5488, POC - 5458, VAL - 5428


Volume Weighted Average Price (VWAP)
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5456.40


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 5730.


J10 TRADING SYSTEM(http://perfecttradingsystem.blogspot.com)
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We will initiated long position if nifty manage to close above 5606.


VOLATILITY BREAKOUT METHOD(http://perfectbreakout.blogspot.com)
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2ndFeb2011  NIFTY : MIN 5371  MAX 5462 RANGE 45


Daily and weekly level 
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NIFTY WEEKLY =>ABOVE  5735BUY)
NIFTY DAILY  =>ABOVE  5606(BUY) 


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