Hi,
Yesterday we had written:” Above yesterday’s close of 4811, 4837-4852 are hurdles. On crossover above it with volumes and sustaining above it will take NF to 4892”.
NF made high of 4848 and then fall started. Bulls have given their best but could not cross 4852 and finally NF made low of 4751.05.
Yesterday around 4830 we have sent message to our subscribers:” Sell NF at 4835 with SL of 4860. Against risk of 25 pts, there is potential of 200 pts”. Rest all you know.
Yesterday again we have done part profit booking to secure our profit. Whatever the target is part profit booking is must. It keeps you in trade.
Now while updating this SGX nifty is trading at 4705.
Today’s trading levels for Nifty Future:
Resistance: 4800-4852
Support: 4733-4725-4718-4659-4632-4610
Now today, below 4751 again there is a support zone of 4733-4725-4718. Break below it with volumes and sustaining below it will take NF to 4659. Below that 4632-4610 are the supports.
4700 level may act as psychological support for option traders.
On upper side 4800 is first hurdle. Above 4852 will give reversal.
Regards,
analysenifty team
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