Hi,
Yesterday we had written:” Below Friday’s low of 4624.50, there is a trend line support around 4610. Break below it will take NF to 4567-4531”.
NF made low of 4561.25 and given a rally up to 4634.40.
Today’s trading levels for Nifty Future:
Resistance: 4670-4702-4741
Support: 4561-4531-4495-4480
Now today, above yesterday’s high of 4634.40, NF will go up to 4670. On crossover above it with volumes will take NF to 4702.
If NF manages to cross 4702 with volumes then next major resistance is 4741.
On lower side below 4607, NF will go up to 4561. Break below it with volumes and sustaining below it will give more panic.
In daily and weekly chart, NF is trading at lower end of Bollinger band.
Regards,
ANALYSENIFTY TEAM
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