Hi,
Yesterday we had written:” Today, 5036 will be the first hurdle for bulls. On crossover above it and sustaining above it with volumes will take NF to 5061”.
NF made high of 5055 but could not cross 5061 and fallen to make low of 4970.
We already advised to do part profit booking around 5050 for any long trade.
Today’s trading levels for Nifty Future:
Resistance: 4999-5013-5061-5113-5121
Support: 4964-4953-4923-4890-4873
Today, first hour’s trade will be very crucial. For bulls NF has to sustain above 5013 and for bears NF has to break 4953.
Today if not breaking yesterday’s low of 4970 then NF will go up to 4999-5013. On crossover above 5013 with volumes will take 5061.
If NF is breaking yesterday’s low of 4970 then also there is support around 4964-4953. Break below 4953 will take NF to 4923.
4890-4873 are last supports for bulls.
FII has bought NF worth 2645 crores in last four 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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