NIFTY VIEW JAN 18

HI  

Today’s trading levels for Nifty Future:

Resistance: 4990-5019-5052-5135

Support: 4951-4925-4912-4879-4835

Now today, on crossover above 4990 NF will go up to 5019. If breaks this level with volumes then next level is 5052.

If NF is not crossing yesterday’s high and remains below 4968 then first support will be 4951. Below 4951, 4925-4912 are good supports. Break below this level will indicate first sign of weakness.

Remaining below 4912 will take NF to 4879. If NF is breaking this level with volumes and remains below this level for 10-15mins then we see sharp fall in the market.

Alert: We are in bear market, now be cautious at higher level. NF has spent already six days at upper end of Bollinger band. (–ve) divergence persist in hourly chart. Yesterday was 13^th day from the low of 4592.40 so today’s high or yesterday’s high will be crucial for the market.

If our view is right then keep handy your cardiologist’s number for next 10 days.

Regards,

ANALYSENIFTY TEAM