Nifty Analysis for 7thFeb2011

Nifty Weekly will be in buy mode above 5732.
Nifty Daily  will be in buy mode above 5535.
Till then we are in downtrend.


Other activities show down move ahead 
Huge Short Build=> upNifty Open Interest for February stands at 2,47,78,300 up by 28,91,050 with decrease in price 
Bearish=>  large % of call witing seen in 5300CE,5400CE,5500CE
Bearish=>  small % of unwinding seen in 5600PE,5700PE,5800PE.


5444-5466 is the Zone to watch,if Nifty can sustain these level =>bull may come to party
Otherwise 5320/5350 is on the card.We should look for short trade until nifty start trading above 5535.

Trade Level  for 7thFeb2011
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BUY  @5573-5597-5642-5674-5714-5765-5830
SELL @5478-5454-5409-5378-5337-5328-5221


VOLUME PROFILE
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5399-5427-5436-(5444-5466)-(5498-5518)-5525-5600-(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   5469
13ema  5570
21ema  5649
34ema  5733
55ema  5799
89ema  5812
144ema 5746
233ema 5587


Market profile 
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VAH - 5524, POC - 5452, VAL - 5380


Volume Weighted Average Price (VWAP)
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5458.71


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 5680.


J10 TRADING SYSTEM(http://perfecttradingsystem.blogspot.com)
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We will initiated long position if nifty manage to close above 5535.


VOLATILITY BREAKOUT METHOD(http://perfectbreakout.blogspot.com)
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7thFeb2011  NIFTY : MIN 5326  MAX 5464 RANGE 69




Daily and weekly level 
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NIFTY WEEKLY =>ABOVE  5732(BUY)
NIFTY DAILY  =>ABOVE  5535(BUY) 


Open Interest Study
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As of now ,
Strong Support   @5400 /5300
Strong Resistane @5500