NIFTY VIEW DEC 13

Hi,

Yesterday we had written:” 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”

While updating this SGX nifty is trading at 4729.

Today’s trading levels for Nifty Future:

Resistance: 4824-4850

Support: 4756-4733-4725-4718-4632

Now today, below 4756, there is a support zone of 4733-4725-4718. Break below this support zone with volumes and sustaining below it will take NF to 4632.

On upper side 4824 is an immediate resistance. On crossover above it will take NF to 4850.

We have entered in oversold zone in hourly chart.

When to cover short? Can we go long at lower level? At which level we should cover short and go long?

Regards,

ANALYSENIFTY TEAM