Hi,
On Friday we had
written that to resume uptrend NF should hold 4713-4699 levels.
On Friday, NF made low of 4696.55 and
given sharp bounce. Yesterday also NF made low of 4720 and continued upward
journey to make high of 4803.50.
Today, while
updating this SGX nifty is trading at 4769.
Today’s trading levels for Nifty Future:
Resistance: 4803-4837-4850-4907
Support: 4766-4751-4732-4720-4671
Now today, on
crossover above 4803 NF will go up to 4837-4850 which is a previous supply zone.
On cross over above it with volumes and sustaining above it will take NF to
4907.
On lower side
there is a strong support cluster of 4766-4751-4732-4720. Break below this
cluster will take NF to 4671.
Till NF is above
4732-4720, there is no problem for bulls. Only concern is yesterday’s volume of
NF, which is lowest volume after 31st Oct’ 11.
Regards
ANALYSENIFTY TEAM
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