Nifty Daily will be in buy mode above 5648.
Till then we are in downtrend.
Other activities suggests bearishness like ............
Short Build UP => Nifty futures OI stands 20455250 up by 28000 ,with decrease in price.
Bearish => small % of unwinding seen in 5600PE,5700PE,5800PE.
Bearish => large % of call witing seen in 5300CE,5400CE,5500CE
If scenerio is not changed we are heading towards more downwards in nifty. Lets see 2morrow.
Trade Level for 1stFeb2011
-----------------------------------------------------------------
BUY @5490-5510-5546-5571-5604-5645-5698
SELL @5413-5393-5357-5332-5299-5258-5205
VOLUME PROFILE
----------------------------------------------------------------
(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
-------------------------------------------------------------------
5ema 5582
13ema 5679
21ema 5745
34ema 5809
55ema 5855
89ema 5847
144ema 5764
233ema 5592
Market profile
--------------------------------------------------------------------
VAH - 5526, POC - 5498, VAL - 5470
Volume Weighted Average Price (VWAP)
--------------------------------------
5486.53
PREVIOUS MONTH NIFTY EXPIRY
----------------------------------------------------------------------
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/)
---------------------------------------------------------------------
We will initiated long position if nifty manage to close above 5748.
J10 TRADING SYSTEM(http://perfecttradingsystem.blogspot.com)
------------------------------------------------------------
We will initiated long position if nifty manage to close above 5648.
VOLATILITY BREAKOUT METHOD(http://perfectbreakout.blogspot.com)
-----------------------------------------------------------------
1stFeb2011 NIFTY : MIN 5454 MAX 5557 RANGE 51
Daily and weekly level
--------------------------------------------------
NIFTY WEEKLY =>ABOVE 5752BUY)
NIFTY DAILY =>ABOVE 5648(BUY)
Open Interest Study
-------------------------------------------------
As of now ,
Strong Support @5400
Strong Resistane @5800
