NIFTY VIEW SEP 8

Hi,

Yesterday was one more winning day for bulls.

NF made high of 5149 and closed at 5117.2.

Today’s trading levels for Nifty Future:

Resistance: 5190-5214-5223-5239

Support: 5073-5041-5021

Now, today below 5106, NF will attempt for 5073. IF NF manages to break 5073 then also 5041-5021 is good support zone.

Reminding you again, we are now in to a supply zone so be careful.

Strength in NF will come only above yesterday’s high of 5149. Then also 5190-5214-5223-5239 is a strong resistance zone. Aggressive bears can look for shorting opportunity around this resistance zone.

-ve divergence is spotted in NF hourly chart and today is 8^th day from the low of 4718. Let’s see, will it give price wise correction or time wise?

Again repeating, we are not bullish with the market. We are just playing counter rally of down trending market.

Regards,

ANALYSENIFTY TEAM