Hi,
Just to refresh what we had written on Monday:” Today watch 5042 levels carefully, below 5042 NF will go up to 5028. From 5028 or from 5002, NF can take reversal. Be alert around these levels”.
On Monday, NF made low of 5017.3 and closed at 5037.15.
On yesterday also we had clearly written:” If not breaking low of yesterday then NF will go up to 5071-5086. Crossover above 5086, NF will attempt for 5135. On crossover above 5135 will increase possibility of crossing 5175 this time”.
Yesterday NF has not broken low of Monday and made high of 5167.8, closed at 5156.7.
Today’s trading levels for Nifty Future:
Resistance: 5175-5190-5223-5239
Support: 5104-5093-5070
Now, today 5104-5093 are good supports for bulls, break below it will take NF to 5070.
Above yesterday’s high of 5167.8, 5175-5190-5223-5239 is a strong resistance zone. Chart indicated that this time bulls may breach this resistance zone.
where NF and NS has stopped on yesterday. Above 5175, there can be H&S break out.
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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