Hi,
On Friday we had written:” 15mins charts indicates pause in the fall around 5185-5174-5162”. NF made low of 5161.30 and closed at 5191.75.
We have covered our short (initiated around 5330) around 5190, clear gain of 140 points and then we have advised to go long around 5175 with stop loss of 5135.
Today while updating this SGX nifty is trading at 5261.
Today’s trading levels for Nifty Future:
Resistance: 5233-5254-5282-5333-5357
Support: 5161-5139-5064
Now today, 5233 is a first hurdle to watch, crossover above it will take NF to 5254-5258. On crossover above 5258 and sustaining above it will take NF to 5282.
Now time being 5161 will be a major support.
Today’s gap up opening will complete morning doji star pattern, which is a reversal pattern.
FII has sold NF worth 1324 crores on Friday so there can be aggressive selling at higher levels so trade your long with strict stop loss.
More details to our subscribers.
Regards
ANALYSENIFTY TEAM
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