NIFTY VIEW JAN 19

Hi,

Yesterday we had written:” on crossover above 4990 NF will go up to 5019”.

NF made open high of 4983 and remained below it for entire day.

Also we had written:” 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”.

NF made low of 4933.70 and bounced up to 4971.45, closed at 4957.50.

Today, while updating this SGX nifty is trading at 4995.

Today’s trading levels for Nifty Future:

Resistance: 4990-5019-5052-5135-5147

Support: 4942-4933-4912-4898-4835

Now today, first hurdle for the day is 4990. On crossover above it will take NF to 5019. If NF crosses 5019 with huge volumes and remains above it for 10-15mins then NF will go up to 5052. 5135-5147 is last resistance.

On lower side 4942 will provide immediate support. Below that 4933-4912-4898 is a strong support zone. Now as and when NF breaks this zone, we can see bloodbath.

Alert: We are in bear market, now be cautious at higher level. NF has spent already seven days at upper end of Bollinger band. (–ve) divergence persist in hourly chart.

In bear market, bulls can not defeat bears so easily unless and until bears set a trap for bulls by showing that they are defeated.

If our view is right then keep handy your cardiologist’s number for next 8 days.

Regards,

ANALYSENIFTY TEAM