Thursday, May 3, 2012

EOD Analysis For 3rd May 2012 and Outlook For 4th May 2012

OI in Nifty futures still hovering around the 20 million mark and VIX seemingly under control [though in reality it is not!]

Nifty is still stuck in the same tight range of the Falling Wedge [ref updated image below and also note the volume scale below for April / May series]
On a time scale, it is indicating that in the period around 14th May to 16th May we should be able to see a decisive break-out or break-down in price

Critical Levels remain unchanged for Nifty
For BankNifty, will provide an update tomorrow as the dip below 10150 (a very crucial support level) is alarming and need to see how prices behave tomorrow as well.

Adding The Image For BankNifty
Tomorrow is very critical and so is holding on to 10050 on closing basis; rest is all given in the image itself

No comments: