nifty view feb15

Today, while updating this SGX nifty is trading at 5489.

Today’s trading levels for Nifty Future:

Resistance: 5444-5454-5478-5504-5589

Support: 5427-5388-5342

Today on cross above yesterday’s high of 5454, rally will continue. If NF is crossing 5460 and not breaking 5440 then we will see sharp rally up to 5504. On crossover above 5504, NF will go up to 5589.

How to break any strong support/resistance? Spend 3-4days around that support/resistance then give closing near that support/resistance and then give gap down/up opening to break that support/resistance. This is what is going to happen today. 5444 was a strong resistance. NF has spent 4days around this level, yesterday given closing at 5440 and now SGX nifty is suggesting opening around 5490.

5427-5388 are strong supports. Break below 5388 with volumes will lead to bloodbath.

For time being (-ve) divergence is negated in NF daily chart but NS daily chart is showing strong (-ve) divergence.

 

yestrday  RPOWER 107 TO 110 WE R STEEL HOLD

BUY FEDRAL BANK ABOVE 425 SL 410 TGT 450,470,480  

WE R MORE STOCKS BUYING SIDE HOLD

 

Regards,

ANALYSENIFTY TEAM