Hi,
Yesterday we had written about the supports of 4885-4876 for the day. Also we had written that sustaining above 4876 will take NF to 4925 and above.
But NF opened below 4876 (4874.75), just for few seconds only made high of 4879 and remained below 4876. Below 4876 next level was 4845. NF has broken that level too and gone below 4796 to make low of 4768.60.
Today while updating this, SGX nifty is trading at 4817.
Today’s trading levels for Nifty Future:
Resistance: 4823-4833-4875-4909
Support: 4739-4725-4710-4667-4542
Now today, 4823-4833 are resistances for the day. On sustaining above 4833 will take NF to 4875. Around 4875, NF will face selling pressure again. If manages to cross 4875 then next target is 4909-4925.
On lower side below yesterday’s low of 4768.60, there is a support zone of 4739-4725-4710. Break below this zone will take NF to 4667.
Yesterday was the third day where NF has remained below Bollinger band. Ideally NF should not remain below or remain above Bollinger band for more than 3-4days. NF hourly chart is showing firm +ve divergence.
Will FII ignore all technical indicators and sell more today or will they do profit booking? If FIIs are selling more today also then what kind of bad news will be there?
We don’t know. We will trade as per levels only.
Regards,
analysenifty team
No comments:
Post a Comment