Thursday, May 10, 2012

EOD Analysis For 10th May 2012 and Outlook For 11th May 2012

OI in Nifty futures marginally up by 1 million to 23 million and VIX still not reflecting the correct price action
Critical levels and outlook for both Nifty and BankNifty remain unchanged from previous post.

The deep discounts in BNF futures are a bit disturbing; we may have to wait till the middle of next week to see the regular 30-50 point premium and that too if spot prices start moving up significantly forcing shorts to cover

Will update 2 charts later in the day tonight with EOD price action on Nifty and BankNifty

Updated Charts [was excited with the IPL matches last night and didn't post these charts - lazy me....]

Nifty Daily Chart

BankNifty Daily Chart

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