Hi,
It was clearly written on last Thursday:” 4946-4936 is a last hope for bulls”.
On Friday, NF opened below it made low of 4850.10 and then taken reversal attempt but could not sustain above 4936. After making day high of 4942.65 and again fallen up to 4875 and closed at 4886.
Today’s trading levels for Nifty Future:
Resistance: 4943-4955-4993-5009-5022
Support: 4850-4824-4756
Now today, 4850 is critical support for bulls. To stop more fall bulls have to protect this level. On break below it with volumes will take NF to 4756 in panic.
4824 is a minor support.
On remaining above 4875 NF will attempt for 4943-4955. 4955 is a strong and important resistance for bulls. On crossover above it with volumes and sustaining above will take NF to 4993. 4993: One more tough resistance for bulls.
Alert: FIIs have sold NF worth 2172 crores in last two trading sessions including Friday’s sell of 1091 crores.
What to do? Buy above 4850 or sell below 4850? Sell near 4955 or buy above 4955? Fill free to call us to know what to do during market hours.
Regards,
ANALYSENIFTY TEAM
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