Hi,
Yesterday we had written: “On lower side, on remaining below 5295, NF will go up to 5262-5248.
Break below it will take NF to 5221 which is a last hope for bulls. On
break below 5221 with huge volumes will increase probability of 5114. But during this one has to watch 5192-5153 carefully.”
Yesterday NF had broken 5262-5248 within 10 mins. in opening and remained below it for the day. Once broken 5221 NF made intraday low of exactly 5192 and flare up to 5229 and finally made low of 5181.
Today, while updating this SGX nifty is trading at 5259.
Today’s trading levels for Nifty Future:
Resistance: 5241-5287-5292
Support: 5153-5114
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.
On
lower side, on remaining below 5180, NF will go up to 5114-5108. Break
below it will take NF to 5087 which is a last hope for bulls. During
down move towards 5114, one should watch 5153 level carefully.
Alert: On yesterday, FIIs net sell worth Rs. 1434.58.
Regards,
ANALYSENIFTY TEAM
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