Hi,
Yesterday, we had written:” Today on remaining above 4925, NF will attempt for 4979. There is a gap from 4979 to 5042, so chances are bright of filling that gap”.
So, gap was filled on yesterday and NF has crashed up to 4903.85 after making high of 5040 (Our resistance was 5038).
Today’s trading levels for Nifty Future:
Resistance: 4977-5001-5040-5077
Support: 4901-4892-4811
Now, 4901-4892 are strong support for bulls, break below 4892 will take NF to 4811.
On upper side 4977 will provide resistance, crossover above it with volumes will take NF to 5001. Above 5001, NF will go up to 5040-5077.
Statistically, FII has bought stock futures worth 3510 crores in last 10 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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