Hi,
Our first hurdle for the day was 4908, NF made high of 4912 in the first 5 minutes of trade and fallen.
On lower side below 4866, our support was 4838. NF made low of 4837.6 and rallied up to 4892. In last minutes again fallen, made low of 4831.1 and closed at 4841.75
Today’s trading levels for Nifty Future:
Resistance: 4875-4912-4928-4996-5012
Support: 4816-4801-4786-4758
Today if NF manages to cross 4875 and sustains above it for 10-15 minutes with good volumes then NF will go up to 4928. 4912 is a minor hurdle to watch.
On crossover above 4928 will give sharp rally up to 4996-5012.
On lower side, below yesterday’s low, 4816-4801 will provide good support. If NF breaks 4801, then 4758 is good entry point for bulls with small and strict stop loss.
Again repeating, we are not bullish with the market. We are just playing counter rally of downtrending market.
More details to our subscribers.
Regards,
analysenifty team
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