Nov 4 NIFTY UPDATE

Hi,

 NF has moved as we have written on 28^th Oct’ 11.

We have written that NF can not sustain above upper end of Bollinger band and same thing happened. After making high of 5402.75 on 28^th Oct’ 11, NF has remained down and made low of 5221.15 on yesterday.

Today’s trading levels for Nifty Future:

Resistance: 5333-5403-5436-5451-5467

Support: 5294-5266-5221

Today, 5333 will be the first hurdle for NF. Crossover above it with huge volumes and sustaining above it will take NF to 5403 which is again a supply zone. Look out for selling opportunity.

If NF manages to cross 5403 then also 5451 is a strong resistance.  

On lower side 5294-5266 are now supports for time being.

More details to our subscribers.

Regards,

ANALYSENIFTY TEAM