Hi,
Yesterday we had
written:” 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”.
NF opened at 4780,
made low of 4779.50 and rallied to make high of 4876.30.
Already writing this
since last couple of days:” NF is consolidating between 4700 and
4800 since last five trading sessions, so be prepared to see some unexpected
levels in this week”.
Today, while updating
this SGX nifty is trading at 4875.
Today’s trading levels for Nifty Future:
Resistance: 4893-4907-4941-4972
Support: 4833-4814-4791-4778
Now today, on
crossover above yesterday’s high of 4876.30 then NF will go up to 4893-4907. On
crossover above these levels and sustaining above it will take NF to
4941-4972.
On lower side
4833-4814 are immediate supports. If NF breaks these levels too then 4791-4778
are strong supports.
Alert: Be cautious
at higher levels, we are in bear market. NF is at upper end of Bollinger band.
In hourly chart, NF has gone in to over bought area. Yesterday FIIs have bought
NF worth 1054 crores.
Regards,
ANALYSENIFTY TEAM
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