NIFTY VIEW DEC 26

Hi,

On Friday we had written:” 4766-4778 is a first resistance zone. On crossover above it with volumes and sustaining above it for 10-15 mins will take NF to 4837-4850”.

NF opened at 4764.10, made high of 4777.80 but could not cross 4778.

Also we had written:” Below yesterday’s close of 4748.40, NF will go up to 4713-4699. To resume this trend up NF should hold these levels. Break below 4699 with volumes and sustaining below it for 10-15 mins will lead to panic selling”.

NF made low of 4696.55 and given sharp bounce.

Today, while updating this SGX nifty is trading at 4729.

Today’s trading levels for Nifty Future:

Resistance: 4737-4778-4837-4850

Support: 4713-4696-4658-4640

Now today, on crossover above 4737 NF will go up to 4778. On crossover above 4778 with volumes and sustaining above it for 10-15 mins will take NF to 4837-4850.

Below 4713-4696 there will be a panic selling, NF will go up to 4658-4640. If NF breaks these levels too then there will be a blood bath.

Yesterday’s volume in NF was lowest volume after 14^th Nov’ 11.

Regards,

ANALYSENIFTY TEAM