NIFTY VIEW AUG 17

AUG 17

Hi,

Yesterday we had clearly written:” 5117 is good resistance on upper side. On sustaining above it will take NF to 5185”. Although NF opened at 5125 and made high of 5139.85 but could not sustain above 5117 for even 5mins and fell.

Our second view was: “Till NF is above 5011, there is no problem for bulls”. Yesterday NF made low of 5006.4 (always keep 10-15 points filter at strong support/resistance) and reversed up to 5042.4.

Today’s trading levels for Nifty Future:

Resistance: 5070-5115-5143-5185-5232

Support: 5002-4967-4951

Today, if NF is not breaking yesterday’s low (keep filter of 10-15 points) then be prepare for sharp rally.

In such a panic on yesterday, FII has bought NF worth 799.31 crores, I thing intention is clear.

 There is a gap at 5232-5339, so on crossover above 5185, one has to be alert around 5232.

Till NF is above 5002, there is no problem for bulls.

What to do at lower level? More details to our subscribers.

 

ANALYSENIFTY TEAM