NIFTY VIEW 10TH APRIL

Hi,

Yesterday we had written: “Today on remaining below 5345, NF will go up to 5318, which is a strong support. On break below 5318, 5268 is a last hope for bulls. On break below 5268 with huge volumes and remaining below it for 15-20 mins will take NF to 5239”.

NF made low of 5245.05 and closed at 5253.

Today, while updating this SGX nifty is trading at 5267.

Today’s trading levels for Nifty Future:

Resistance: 5284-5302-5324-5363-5410-5445

Support: 5239-5201-5188-5134-5061

Today on remaining above yesterday’s low NF will attempt for 5284. Above 5284 there is a strong resistance of 5302. To continue this downtrend bears will give their best to protect this level. If bulls manage to cross 5302 level with volumes then it will take NF to 5363. During this keep 5324 in mind. Now above 5410, there is a huge break out.

On lower side below 5239 NF will go up to 5201. Below 5201, NF will fill the gap of 5239-5188.

Yesterday FIIs have sold NF worth 1091 crores.

Regards,

ANALYSENIFTY TEAM