Nifty Analysis for 8thMarch2011

 Nifty Weekly will be in buy mode above 5568.
Nifty Daily  will be in buy mode above 5525.
Till then we are in downtrend.


Other activities show down move ahead
Huge Long Liquidation, Profit booking on Shorts =>Nifty Open Interest for March stands at 2,08,10,050 down by 18,94,950 with decrease in price
mild bearish=>  Call writng seen @5400 CE
Bullish=>  put  unwinding seen @5500,5600,5700 PE


OI STUDY Suggests Market inclined little downside(@5400) and more upside(5500 to 5600).


It appear Nifty have closed at tricky level .Either side movement is possible.Although New appear to bring market down.
Technically it doesnot appear market is ready to move more down=> this situation may change @ any point of time.


5499 is first resistance if nifty trade above it => Go Long 
ELSE SHORT IT STOPLOSS 5499




VOLUME PROFILE
----------------------------------------------------------------
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
-------------------------------------------------------------------
5ema   5475
13ema  5453
21ema  5468
34ema  5523
55ema  5605
89ema  5671
144ema 5668
233ema 5574



Market profile
--------------------------------------------------------------------
VAH - 5492, POC - 5466, VAL - 5440




Volume Weighted Average Price (VWAP)
--------------------------------------
5452




PREVIOUS MONTH NIFTY EXPIRY
----------------------------------------------------------------------
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/)
---------------------------------------------------------------------
We will initiated short position if nifty manage to close above 5456.




J10 TRADING SYSTEM(http://perfecttradingsystem.blogspot.com)
------------------------------------------------------------
We will initiated short position if nifty manage to close above 5456.




VOLATILITY BREAKOUT METHOD(http://perfectbreakout.blogspot.com)
-----------------------------------------------------------------
21stFeb2011  NIFTY :MIN  5,369  MAX 5,557 RANGE 94




Daily and weekly level
--------------------------------------------------
NIFTY WEEKLY =>ABOVE  5568(BUY)
NIFTY DAILY  =>ABOVE  5525(BUY)




Open Interest Study
-------------------------------------------------
As of now ,
Strong Support   @5400
Strong Resistane @5500-5600