NIFTY HIGH 5994 - LOW 5921 CLOSE 5932 AVG 5963.Nifty made double bottom @ 5921 & 5925 & two day avg also is same 5963 median of this price 5943.nifty is at crucial junction in last 1 hour we have seen nifty fall from 5980 till 5921 with huge volume but end of day fii oi is not much changes. i have scan this type of patten where i found that mark must swing higher then last two days swing.
if mrk open at higher level then today closes,it might not be able to cross 5963 then u can see mrk go down till 5865 it might be possible (A)first mrk may go till 5943 or 5956 & after 1 hour cut 5920 then short reverse till 5933 & cut new low & fall till 5884 & swing reverse till 5908 & after 1.45 or 2.3 slide till 5864 (B) if mrk open lower then 5932 OR 5925 & not able to cross 5900. after 11.3 MRK MADE (ie cross morning 1 hour high) new high then we will see up move till 6020 in this case we can see both way move (i e mrk go till 5943 then come down till 5925 again swing up till 5963 & come down till 5943 & after 1.45 or 2.3 mrk will swing in one direction till 5995 or more may be 6020 due to short covering in mrk
I FEEL TOMORROW MRK WILL BE IN VOLATILE ZONE EITHER FRESH SHORT SHOULD ADD OR SHORT COVERING MUST COME (MEANS LONG WIND UP IN LAST 3 DAYS MUST COME BACK WITH ADDING LONG AGAIN)
DATA REFERENCE
AS ON 04-06-2013 FII OPEN INTEREST IS 25900 as on 03 may IT WAS 267000
IT MEANS LONG POSITION OI CUT BY 7700.
OBSERVATION SEEN THAT FII IS NOT AGGRESSIVELY ADDING OR CUTTING HIS POSITION @ THIS JUNCTION SO WEDNESDAY DAY IS IMPORTANT DAY TO SEE SWING BECAUSE FRESH DECISION WILL PARTICIPATE IN MRK.
NIFTY MONTH TO MONTH SWING IS 6 % (6119-5921)MRK MOVE 3.25% TILL DATE
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