Hi,
Yesterday we had written: “Today, on crossover above Friday’s high NF will go up to 5385-5394-5410. On crossover above this resistance zone NF will go up to 5440”.
Yesterday on crossover above 5347, NF made high of 5372.
Today, while updating this SGX nifty is trading at 5406.
Today’s trading levels for Nifty Future:
Resistance: 5385-5394-5410-5440-5485-5510
Support: 5308-5284-5239-5185
Today
again 5385-5394-5410 is a resistance zone. On crossover above this
resistance zone NF will go up to 5440. Above 5440, 5485-5510 is next
resistance zone.
Around
5440, there is a trend line resistance. On crossover above 5440 with
huge volume and remaining above it will give flag break out of 341
points.
On
lower side till NF is above 5308, there is no problem for bulls. Below
5284 we will see bloodbath but chances are very remote.
Market
is going up since last three days but volume of NF and market turnover
is declining. Today NF will enter in overbought zone in hourly chart so
movement after 2pm will be interesting.
Regards,
Analysenifty team
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