NIFTY VEW JAN 4

Hi,

Yesterday we had written:” Above yesterday’s high of 4656, NF will go up to 4680 which is a strong resistance. Open above or below 4680 will show strength of bulls and bears respectively”.

Yesterday’s open low of NF was 4680.55 and once cross 4730, rest all you know. By managing open above 4680, bulls have indicated their strength.

Today, while updating this SGX nifty is trading at 4781.

Today’s trading levels for Nifty Future:

Resistance: 4808-4837-4862-4867

Support: 4730-4716-4705-4693-4680

Now today, if NF is not crossing yesterday’s high then NF will go up to 4730. Now below 4730, 4716-4705-4693-4680 is a strong support zone for bulls.           Chances are very of breaking of this support zone, if bears breaks this zone then????.

On crossover above yesterday’s high, NF will go up to 4808. Above that 4837 is a strong supply zone. If NF manages to cross this level too then also 4862-4867 will provide resistance.

For continuation of this rally, yesterday’s high of NS is must to cross.

Regards,

ANALYSENIFTY TEAM