Hi,
For yesterday, we had written:” 4901-4892 are strong support for bulls, break below 4892 will take NF to 4811”. Also we have shown NF hourly chart to show how NF has taken channel support.
NF made low of 4908 and reversed. Above 4977, our targets were 5040-5077. NF made high of 5032.8 and closed at 5019.15.
While updating this, NF is trading 5051.
Today’s trading levels for Nifty Future:
Resistance: 5040-5077-5116-5124
Support: 4981-4901-4892-4811
Now, today above 5040, 5077 is a level to watch. On crossover above it with volume will take NF to 5116-5124.
On lower side 4981 is a support; break below it will take NF to 4901.
Statistically, FII has bought stock futures worth 3943.83 crores in last 11 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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