Hi,
On Friday we had written: “today watch again 5302-5325 range carefully. On crossover above 5325 with volumes and sustains above it for 10-15 mins than we will see rally up to 5403-5444”.
On Friday NF had made low of 5264.05 and remained below 5302. After 2pm crossed 5302 with huge volume and gone up to 5357.50.
Today, while updating this SGX nifty is trading at 5388.
Today’s trading levels for Nifty Future:
Resistance: 5357-5403-5444
Support: 5297-5264-5229
Now,
today above Friday’s high of 5357.50, NF can go up to 5403. 5403 will
provide good resistance. On crossover above 5403 with volumes, NF will
go up to 5444. 5444 is a last hope for bears. Bears should be aggressive
between 5403-5444 to regain their power.
On lower side 5297 will provide strong support. There is no problem for bulls till NF is above 5297.
Already written on Thursday that Friday
(+/- 1day) is very crucial for this rally from the low of 4538, we will
see top in these three days followed by a correction of at least
5-8days.
(-ve) divergence may negate on closing above 5350 in daily chart.
BIOCON RES 281 -284 ABOVE TGT 287,295,300
Regards,
analysenifty team 
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