Nifty Analysis for 21st February 2011

Nifty Weekly will be in buy mode above 5646.
Nifty Daily  will be in buy mode above 5400.
Till then we are in downtrend.




Other activities show down move ahead 
Long winding =>Nifty Open Interest for February stands at 24,923,950 down by 1,072,800 with decrease in price  
Bearish=>  large % of call witing seen in 5400CE,5500CE
Bearish=>  small % of unwinding seen in 5300PE,5400PE,5500PE,5600PE.


5380 ,5465 are two major support area =>in nifty doesnot find support ,more downside will come.  

Trade Level  for 21stFeb2011
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BUY  @5585-5606-5643-5670-5704-5747-5802
SELL @5506-5485-5448-5421-5387-5344-5289


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   5464
13ema  5456
21ema  5504
34ema  5587
55ema  5677
89ema  5729
144ema 5703
233ema 5586


Market profile 
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VAH - 5562, POC - 5513, VAL - 5464


Volume Weighted Average Price (VWAP)
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5520.73


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 5646.


J10 TRADING SYSTEM(http://perfecttradingsystem.blogspot.com)
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We will initiated long position if nifty manage to close above 5534.


VOLATILITY BREAKOUT METHOD(http://perfectbreakout.blogspot.com)
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21stFeb2011  NIFTY :MIN  5,382.10  MAX 5,535.80 RANGE 76


Daily and weekly level 
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NIFTY WEEKLY =>ABOVE  5646(BUY)
NIFTY DAILY  =>ABOVE  5400(BUY) 


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