NIFTY VIEW DEC 28

Hi,

Yesterday we had written:” 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 31^st Oct’ 11”.

Yesterday NF opened at 4764.95, given rally up to 4808 and then fall starts. On lower side, made low of 4725.10 but could not break 4720 and again bounced up to 4759.60.

Today, while updating this SGX nifty is trading at 4723.

Today’s trading levels for Nifty Future:

Resistance: 4767-4808-4837-4850

Support: 4720-4671-4641

Now today, on break below 4720 with volumes and remaining below it for 10-15 mins will take NF to 4671-4641. Again break below these levels with volumes will lead to blood bath in the market.

On upper side, strength will come only above 4767. Above 4767 NF will go up to previous supply zone of 4808-4837-4850.

Alert: FIIs have bought NF worth 2751 crores in last six trading sessions, so will they allow NF to go down on the previous day of expiry?

Regards,

ANALYSENIFTY TEAM

OUR CLIENT BUY 4800 PUT AT 45  EXIT NEAR 80

NIFTY ALSO SHORT  50 % BOOK PROFIT AT 4735