NIFTY VIEW DEC 16

Hi,

Yesterday we had written:” 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.”.

NF made low of 4671.10 and reversed to make day high of 4884.

NF has gone down up to 165 points against the risk of 25 points, from our short level of 4835.

Today’s trading levels for Nifty Future:

Resistance: 4783-4807-4833-4852

Support: 4728-4671-4632-4610

Now today, on crossover above 4783, NF can go up to 4807. If manages to cross 4807 then also 4833-4852 is a strong resistance zone.

Crossover above 4852 with volumes and sustaining above it will indicate short term reversal.

On lower side, below 4728 there will be panic selling. In panic NF can touch 4632-4610.

Today, RBI policy will be announced. We are least bothered about CRR hike or cut. We will trade as per levels.

Alert: FIIs have sold NF worth 3941 crores in last six trading sessions, including yesterday’s sell of 697 crores. Why they have sold NF worth 697 crores on the previous day of RBI policy???

Regards,

ANALYSENIFTY TEAM 

OUR MONTHLY FEES  STOCKS  WITH   NIFTY  2500 RS