S&P CNX Nifty Index (NSEI)

Add a New Bulls Reason Index: S&P CNX Nifty Index (NSEI) Current price: Headline: (100 character max) Analysis: Cancel 66% agree 3 votes   S&P CNX Nifty Index (CNXNFTY-IN)/Bulls/S&P CNX Nifty Index (CNXNFTY-IN)/Bulls/Technical Bullishness due to Oversold Stochastic Oscillator and a Bullish Hammer on the daily charts Top Contributor: Girish Nayyar | Created when INDEX:NSEI was $2.00 | Edit | History Yesterday - 17th November, 2008, Nifty tested the lower band of the channel at 2694 and gave a sharp bounce back to close at 2799 with a marginal loss of 0.38%. On the daily candlestick chart, this indicates a bullish hammer - opening and closing prices are near the day's high and the close is reached after testing a considerably deep low. We should see at least a mild 10-15% rally in the ensuing week. Also, make a note of the nifty volatility index, which stands at an abnormal high of 85. This is not sustainable and the volatility should subside in the coming few days, hopefully with the aforementioned rally. (100 character max) Cancel 50% agree 2 votes   S&P CNX Nifty Index (CNXNFTY-IN)/Bulls/S&P CNX Nifty Index (CNXNFTY-IN)/Bulls/Interestingly poised at a key short term support Top Contributor: Girish Nayyar | Created when INDEX:NSEI was $2.00 | Edit | History Nifty has a good level of support at 2800. It has held on to this support twice in the last one month. If it holds on to this support for the third time, it will form a short term triple bottom, which should take the index higher to at least 3300-3400 levels. However, a break of 2750 will move the index lower to 2500. If Nifty breaks 2930 it may go down to 2840, 2800 in the short term, but it is showing bullishness and it may move upside to the level of 3150, 3220. (100 character max) Cancel

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