NIFTY VIEW MARCH 2

Hi,

Yesterday we had written: “On lower side, if NF is not breaking 5455 and breaks 5433 then NF can go up to 5374. Once NF breaks this level with volumes and remains below it for 10-15 mins then we may see bloodbath”.

Yesterday NF opened at 5413, made high of 5427 but could not cross 5433 and broken 5374 and spent good time around this level. Sustaining below 5374, we were expecting bloodbath but NF made low of 5341 and reversed, for reason we have attached NS hourly chart.

Today, while updating this SGX nifty is trading at 5408.

Today’s trading levels for Nifty Future:

Resistance: 5412-5429-5439-5449-5471-5517-5531-5558-5635

Support: 5341-5326-5274-5237-5207

Today, on crossover above 5412, there is a strong resistance zone of 5429-5439-5449. If NF crosses these levels then it can go up to 5517-5531. During this keep an eye on 5471.

If NF is not crossing/sustains above 5412 then again it can go up to 5341-5326.

 

BUY ON DEEPS GATWAY DIST (532622) CMP 153 SL

140 TGT 170,175

Regards,

ANALYSENIFTY TEAM