Nifty Analysis for 22march2011

Nifty Weekly will be in buy mode above 5520.
Nifty Daily  will be in buy mode above 5476.
Till then we are in downtrend.


Other activities show up  move ahead
Long Liquidation =>Nifty Open Interest for March stands at 2,21,96,900 down by 11,97,500 with decrease in price
Semi bearish=>  Call writng seen 5400 CE,5600CE,5700CE , unwinding seen in 5500CE
semi bullish=>  put  writing  seen at 5400PE,5500PE,5600PE


No clear signal of either side movement . We may witness a range bound market between 5300 -5500

So trade accordingly.Nifty @ current standing doesnt seems to breaking 5300 or 5500.

VOLUME PROFILE
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5318-5399-5427-5436-(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   5416
13ema  5447
21ema  5459
34ema  5494
55ema  5561
89ema  5629
144ema 5642
233ema 5566


Market profile
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VAH - 5424, POC - 5404, VAL - 5382




Volume Weighted Average Price (VWAP)
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5395.20




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%)
24-Feb-11,5262.7,-174.65,(-3.21%)




MOVING AVERAGE PRICE CHANNEL(http://pricechannelsystem.blogspot.com/)
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We will initiated short position if nifty manage to close below 5442




J10 TRADING SYSTEM(http://perfecttradingsystem.blogspot.com)
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We will initiated short position if nifty manage to close below 5442.




VOLATILITY BREAKOUT METHOD(http://perfectbreakout.blogspot.com)
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9th March  NIFTY :MIN  5309 MAX 5419 RANGE 55


Daily and weekly level
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NIFTY WEEKLY =>ABOVE  5520(BUY)
NIFTY DAILY  =>ABOVE  5476(BUY)




Open Interest Study
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As of now ,
Strong Support   @5400-5300
Strong Resistane @5600-5700