Wishing you and your family a “Happy Diwali”.
Written on 3rd Oct’ 11:” Ideally before making new low below 4718, NF should give one more rally up to 5200.”
On 4th Oct’11 NF made low of 4725.55 and reversed.
Written on 5th Oct’ 11:” +ve divergence in 15min chart, oversold in hourly chart and at lower end of Bollinger band in daily chart indicates reversal, if not reversal then at least pause in the fall”.
On 5th Oct’ 11, NF made low of 4747 and started rally.
Written on 20th Oct’ 11:” 5174 is still a resistance for bulls to conquer. Crossover above it with huge volumes and sustaining above it will give more fireworks. Chances are bright for upper side break out”.
Yesterday, on lower side our support was 5083, NF made low of 5086.65 and reversed and given break out to make high of 5192.85.
Today’s trading levels for Nifty Future:
Resistance: 5203-5218-5243-5254-5296-5339
Support: 5174-5143-5110-5086
Today, till NF is above 5143, there is no problem for bulls. Below 5143, 5110 and 5086 are good supports.
On crossover above yesterday’s high of 5192.85, 5203-5218-5243-5254 is a price cluster which can provide resistance.
There is a gap from 5232 to 5339 which can be filled in next few days. During this watch 5296 level carefully.
Although NF has given break out above 5174, we are looking for an end of a rally started from 4725.55 so be cautious on higher side and do not leverage your position.
More details to our subscribers.
Regards,
Analysenifty Team
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