Nifty view mar28

Hi,

Yesterday we had written: “Today, on remaining above 5205, NF will attempt for 5240-5255. On crossover and sustaining above it with volumes will give huge short covering which will take NF to 5287-5292 levels.”

Yesterday in the opening trade NF made high of 5249 (not crossed 5255) and gone below up to 5188.15, then given rally up to 5295 but could not sustain above it and crashed again up to 5210.

Today, while updating this SGX nifty is trading at 5244.

Today’s trading levels for Nifty Future:

Resistance: 5278-5295-5329-5353-5369

Support: 5247-5210-5181-5153-5114-5087

Today, on remaining above 5247, NF will attempt for 5278-5295. 5278-5295 is a strong resistance zone so bears will give their best to protect these levels. On crossover above this and sustaining above it will take NF to 5353-5369. Keep watching 5329 during this.

On lower side, on remaining below 5247, NF will go up to 5210. Break below 5210 will increase chances of breaking 5181 too. If NF is breaking 5181 with huge volumes and remains below it then we may see 5114 level too. Keep watching 5153 during this.

Alert: FIIs have sold NF worth 3400 crores in last 7 trading sessions so will they allow NF to go up when expiry is on tomorrow???

Regards,

Analysenifty team