Hi,
On Wednesday, we had written:” Be cautious at higher levels and don’t leverage your long position. Trade with strict stop loss or trade with proper hedging position”.
Our first resistance for the day was 5333, NF made high of 5331.95 in the opening trade and fallen. Our bias towards upper side was valid till NF was above 5270 that too was negated on the ORB on lower side with the high at resistance in the opening trade.
Today while updating this SGX nifty is trading at 5176.
Today’s trading levels for Nifty Future:
Resistance: 5275-5333-5357
Support: 5185-5174-5162-5139-5064
Today, below 5208 there is a support zone of 5185-5174-5162. Break below 5162, NF will attempt for 5139.
15mins charts indicated pause in the fall around 5185-5174-5162.
On upper side, now 5275 will be a strong resistance.
Bulls will give their best to protect 5174 level today. Closing above 5174 is very important for bulls.
Regards,
analysenifty team
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