Hi,
We have written on muhurat day:” On crossover above yesterday’s high of 5192.85, 5203-5218-5243-5254 is a price cluster which can provide resistance”.
NF made high of 5257.20, made low of 5227 and closed at 5233.
Also we had written:” There is a gap from 5232 to 5339 which can be filled in next few days. During this watch 5296 level carefully”.
Today while updating this SGX nifty is trading at 5416 so gap from 5232 to 5339 will be filled today.
Today’s trading levels for Nifty Future:
Resistance: 5296-5339-5436-5451-5467
Support: 5203-5174-5158
Today, above 5339 next resistance levels are 5436-5451-5467. Now around these levels NF will face huge supply. One can go short around these levels with small and strict stop loss.
On lower side 5203-5174 and now supports for time being.
Today on crossover above 5300, NF will go above upper end of Bollinger band. NF can not sustain above upper band of Bollinger band or lower end of Bollinger band for more than 3-4 days.
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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