17/01/12

Nifty Mp6 17/01/12

A break from the balance zone created a trend like early morning which took the NF within 10 points of the high volume zone of 4998.It was an Open drive out of range and value in itself a strong indicator of longer time frame presence.

The single prints from 4914 to 4944 confirmed the same. Value was created later in the day between 4953 and 4980 and would be useful reference points for tomorrow’s trading.

Bn Mp61 17/01/12

The BN also had an open drive and a P shaped profile.The close was at the lower end of the value band suggesting some responsive selling happening near the day highs.