Hi,
Once again FIIs have proved their dominance in Indian equity market.
We have written on yesterday: “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”.
Yesterday NF opened above 5233 but resisted around 5254. NF made high of 5248.95 and fallen.
We have covered our 50% long around 5220 and rest at around 5160 (initiated at 5170).
Today’s trading levels for Nifty Future:
Resistance: 5194-5230-5250
Support: 5144-5139-5106-5064
Now today, 5144-5139 are immediate supports for NF, If protected then expect reversal. On break below 5139 with volumes and sustaining below it will take NF to 5106.
Any strength in NF will emerge only above 5194. Crossover above 5230 will give confirmation.
Regards,
ANALSENIFTY TEAM
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