Hi,
Yesterday below 5054, our level was 5027. Break below 5027, there was a strong support zone of 5001-4990-4970. NF made low of 5013.30 and reversed to make high of 5055 and closed at 5044.90.
Today’s trading levels for Nifty Future:
Resistance: 5064-5088-5128-5174
Support: 5013-5001-4990-4970-4944
Today, on cross over above 5064 NF will go up to 5088. On break above 5088 with volumes and sustaining above it for 10-15 min will take NF to 5128.
5174 is a strong hurdle for bulls.
On lower side below yesterday’s low, 5001-4990-4970 is a support zone.
4944 is a last support for bulls.
Till NF is above yesterday’s close, there is no problem for bulls.
+ve divergence is spotted in 15min charts.
We will be busy with some personal commitment for the rest of the week. If time permits we will provide you update till then do not leverage your position.
Again repeating, we are not bullish with the market. We are just playing counter rally of down trending market. This may turn in to last counter rally.
More details to our subscribers.
regards
analysenifty team
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