Hi,
On Friday we had written: “Today NF will face strong resistance at 5589. On crossover above 5589, NF will go up to 5617. Above 5617, 5638-5657 is an ideal zone to go short but don’t jump and short, look for some indicator to support it”.
NF made high of 5619 (forget open-high of 5700, it was manipulative) and given sharp fall up to 5565, finally closed at 5589.60.
Today, while updating this SGX nifty is trading at 5588.
Today’s trading levels for Nifty Future:
Resistance: 5617-5638-5657-5785
Support: 5565-5552-5547-5490-5444
Today
on remaining below 5617, again NF will go up to 5565. There is a
support zone of 5565-5552-5547. Bulls will try their best to protect
this support zone. On break below this zone NF will go up to 5490.
strong channel
support around 5500-5485 zone, so for today 5490 will be a crucial level
to watch if it comes.
On
upper side, today again 5617 will provide resistance. Above 5617,
5638-5657 is an ideal zone to go short but don’t jump and short, look
for some indicator to support it.
RPOWE 107 TO 135
BOI 370 TO 395
FEDRAL 425 TO 450
BUY HDFC BANK SL 500
Regards,
ANALYSENIFTY TEAM
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