Bank Nifty Weekly will be in buy mode above 11071.
Bank Nifty Daily will be in buy mode above 10626.
Till then we are in downtrend.
Trade Level for 7thFeb2011
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BUY @10767-10818-10909-10975-11058-11163-1129
SELL @10573-10522-10430-10365-10282-10176-10042
VOLUME PROFILE
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10749-(10517-10563)-10447
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 10550
13ema 10671
21ema 10798
34ema 10996
55ema 11220
89ema 11325
144ema 11179
233ema 10714
Market profile
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VAH - 10798, POC - 10698, VAL – 10524
Volume Weighted Average Price (VWAP)
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10592.77
PREVIOUS MONTH NIFTY EXPIRY
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30-12-2010-BANKNIFTY 11629.00
27-01-2011-BANKNIFTY 10678.80
MOVING AVERAGE PRICE CHANNEL(http://pricechannelsystem.blogspot.com/)
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We will initiated long position if bank nifty manage to close above 11545.
J10 TRADING SYSTEM(http://perfecttradingsystem.blogspot.com)
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We will initiated long position if bank nifty manage to close above 10626.
VOLATILITY BREAKOUT METHOD(http://perfectbreakout.blogspot.com)
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7thFeb2011 NIFTY : MIN 10258 MAX 10609 RANGE 175
Daily and weekly level
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NIFTY WEEKLY =>ABOVE 11071(BUY)
NIFTY DAILY =>ABOVE 10626(BUY)
Open Interest Study
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As of now ,
Strong Support @11300
Strong Resistane @11500
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