Hi,
As expected, NF has given rally. And as expected, NF has faced resistance nearing 5174.
Above 5088, our level was 5128. Crossover above, next major hurdle was 5174. NF has spent good amount of time around 5128 and finally in last hour given rally to make high of 5157.50.
While updating this SGX nifty is trading at 5101.
Today’s trading levels for Nifty Future:
Resistance: 5174-5203-5218-5243-5254
Support: 5113-5086-5076-5045-5013
Today, on lower side 5113 is a support. Break below it will take NF to 5086-5076.
There is a gap of 5070-5064. Break below 5076, NF can fill this gap.
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 but don’t be rigid.
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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