NIFTY VIEW FEB 10

Hi,

Yesterday we had written: “Today 5367 is a level to watch. If NF breaks this level with volumes and remains below it for 10-15mins then NF will go to support zone of 5340-5329-5312”.

NF made low of 5360 but could not sustain below 5367 (5304.65 is not recorded in intraday charts).

For upper side we had written: “On upper side, If NF is not breaking 5367 and breaks 5404 then chances are bright that NF will go up to 5444. Bulls are keen to break level of 5444 before any sizable correction at the same time bears will be more aggressive in 5403-5444 zone”.

NF made low of 5360 and remain above it. Once crossed 5404 and sustained above it, given nonstop rally up to 5451.65.

Today, while updating this SGX nifty is trading at 5430.

Today’s trading levels for Nifty Future:

Resistance: 5452-5478-5504

Support: 5402-5398-5345-5340

Today above 5452, 5478 is a minor hurdle. On crossover above it NF will go up to 5504.

On lower side 5402-5398 are strong supports. Break below these levels with volumes will take NF to 5345-5340. Chances are less but if breaks these levels to then???

For time being (-ve) divergence is negated in daily chart.

Alert: FIIs are buying in NF but they have sold stock futures worth 992 crores in last four trading sessions.

KOTAK BANK 535 TO 555

HDIL 85 TO 100

 BUY BGR   SL 250 CMP 258  TGT 275

Regards,

ANALYSENIFTY TEAM