Hi,
Yesterday below 5106 our support was 5073, NF made low of 5088.35 and reversed to make high of 5174 and closed at 5155.
Today’s trading levels for Nifty Future:
Resistance: 5190-5214-5223-5239
Support: 5131-5114-5055
Now, today if not breaking high of yesterday then watch 5131 level carefully. Break below 5131, NF will take to 5114. Last hope for bulls is 5055.
On crossover above yesterday’s high, 5190-5214-5223-5239 is a strong resistance zone. Aggressive bears can look for shorting opportunity around this resistance zone.
Reminding you again, we are now in to a supply zone so be careful.
-ve divergence is spotted in NF hourly chart and yesterday was 8th day from the low of 4718.
Technically rally from 4718 should over around above written resistance zone but statistically rally should extend as FII has bought stock futures worth 3158 crores in last 8 trading sessions.
Again repeating, we are not bullish with the market. We are just playing counter rally of down trending market.
More details to our subscribers.
Regards,
Analysenifty Team
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