Hi,
Yesterday was another day of consolidation between 4700 and 4800. On lower side below 4725 our support was 4696. NF made low of 4705.15 and rallied.
On upper side our resistance was 4775, NF made high of 4778 and again fallen up to 4731.55 and closed at 4758.10.
We had written since last few days:” Till NF is above 4680, there is no problem for bulls”.
Today, while updating this SGX nifty is trading at 4780.
Today’s trading levels for Nifty Future:
Resistance: 4778-4821-4837-4862-4867
Support: 4731-4725-4696-4680-4644
Now
today, on crossover above 4778 and sustaining above it will take NF to
4821-4837. If NF manages to cross 4837 then also there is a resistance
zone of 4862-4867. Trend line resistance is coming around 4865-4875.
On lower side 4731-4725 are supports to watch. Break below these levels will take NF to 4696-4680. Below 4680???...
NF is consolidating between 4700 and 4800 since last five trading sessions, so be prepared to see some unexpected levels in this week.
Regards,
ANALYSENIFTY TEAM
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