Hi,
On Friday, first day of October series, NF has swung both sides but neither side given break out.
On lower side made low of 4920.1 and on upper side made high of 5031.
Since last four days, NF was protecting 4901 level. Today while updating this SGX nifty is trading at 4855.
Today’s trading levels for Nifty Future:
Resistance: 4956-4964-5046
Support: 4879-4866-4819-4768-4756
Now today, below 4901 there are supports at 4879-4866. Sustaining for 5-10 minutes below 4866 with huge volumes will take NF to 4819. Break below 4819 will take NF to 4768.
One has to watch 4866 level very care fully.
On upper side 4956-4964 are levels to watch.
Friday’s turnover was lowest turnover of last 17 trading days.
Ideally before making new low below 4718, NF should give one more rally up to 5200. But we are not rigid for 5200; we will follow levels only and trade accordingly.
Again repeating, we are not bullish with the market. We are just playing counter rally of down trending market.
More details to our subscribers.
OUR CLIENT HOLD NIFTY SHORT AT 5000 LEVEL
Regards
Analyse nifty team
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