January 16, 2011

Weekly Update-Nifty Future

Finally Breakdown!!! Nifty future was trying to make balance n getting support around 5700, which broke in last hour of trade.
Here is Mp chart with all periods split to get how fast NF reversed. 
Again rare trading day-as it opened below previous day Value area then RE of Initial balance to nearly YVAH of 5860..rotated there for three periods giving impression of Double Distribution day, but in 'J' period DD day was rejected,to hit days low n broke 5700 level which held for nearly 4-5days, and made new weekly low,closing near the lows.

Another chart -Weekly volm with Open interest.

Volume was very high, (highest after 10th July 2009(weekly)).

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