NIFTY VIEW DEC29

Hi,

Yesterday we had written:” strength will come only above 4767”. NF made high of 4757 in the opening and remain below it.

For lower side we had written:” on break below 4720 with volumes and remaining below it for 10-15 mins will take NF to 4671-4641”.

NF made low of 4682.60 and given bounce up to 4730.

Today, while updating this SGX nifty is trading at 4680.

Today’s trading levels for Nifty Future:

Resistance: 4730-4746-4808-4837-4850

Support: 4682-4671-4641-4594

Now today, bulls will try to protect 4682-4671. On break below it with volumes will take NF to 4641. If NF manages to break 4641 then next level is 4594.

On upper side, strength will come only above 4730. Above 4730 there is a minor hurdle of 4746. On crossover above it NF will go up to previous supply zone of 4808-4837-4850.

Alert: FIIs have bought NF worth 2932 crores in last seven trading sessions, so they will give their best to protect 4682-4671. If not breaking 4682-4671 then there can be surprising sharp rally in last hour of trade.

Regards,

ANALYSENIFTY TEAM