NIFTY VIEW DEC 1

Hi,

Yesterday we had written:” On remaining below 4810, NF will go up to 4782. Break below 4782 with volumes will take NF to 4759-4750. Sustaining below 4750 with volumes will take NF to 4688”.

NF opened at 4800 (below 4810) and made low of 4756.10.

During market hours when NF was trading around 4760, we had sent a message to our clients:” NF view: If NF is not breaking 4759-4750 then it can give rally up to 4993-5018. If NF breaks 4759-4750 and give closing below it then NF will go below 4632”.

Yesterday NF has not broken 4759-4750, made low of 4756.10 and given sharp rally up to 4862. Now while updating this SGX nifty is trading at 5001.

Today’s trading levels for Nifty Future:

Resistance: 4965-4993-5018-5032-5052-5077

Support: 4777-4756

Now today, above 4965 watch out 4993-5018 very carefully. Best thing is to go short around these levels with strict stop loss.

Bears will give their best to protect 5018 level. If some how NF manages to cross 5018 then also 5032-5052 are levels to provide resistance.

Don’t worry about stop loss. It will take 20-30 points only but gain will be huge. We will take couple of attempts.

Today is the 7^th day from the low of 4632. We are expecting end of this rally on today or latest by tomorrow.

What to do buy or sell? That details to our subscribers.

Regards,

Analysenifty team