Hi,
Have you bought NF at lower levels on Friday? No!!!!!
Have you bought NF around 4811 on yesterday? No!!!!!
Forget Friday even on yesterday also we had written: “If someone has missed to take long position at lower level can watch 4811 very carefully to enter”. NF has rallied 230 points already in last two days form Friday’s low.
On sustaining above 4811, our targets were 4846-4883. Above it our next targets were 4954-4971. NF made high of 4948 and closed at 4933.15.
While updating today SGX Nifty is trading at 5008, up 69 points.
Today’s trading levels for Nifty Future:
Resistance: 4954-4971-5010-5042-5097
Support: 4896-4873-4811
Today on crossover above 4954 with volumes will take NF to 4971. Crossover above 4971 with volumes will take NF to 5010.
Watch out 5010 level very carefully, If NF manages to cross 5010 then next target is 5097. 5042 is minor hurdle.
On lower side 4896-4873 are good supports.
FII has bought NF worth 1673 crores in last two days.
Positive divergence of RSI in NF daily chart is showing its effect.
Do not leverage your position due holiday for next two days.
Again repeating, we are not bullish with the market. We are just playing counter rally of down trending market.
Regards,
AnalyseNifty Team
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