NIFTY VIEW APRIL 4

Hi,

Yesterday we had written: “Today again 5385-5394-5410 is a resistance zone. On crossover above this resistance zone NF will go up to 5440”.

NF has given respect to all three levels. Initially made high of 5388 then 5394; finally made high of 5402 and closed at 5383.

Today, while updating this SGX nifty is trading at 5354.

Today’s trading levels for Nifty Future:

Resistance: 5410-5440-5485-5510

Support: 5346-5335-5308-5268-5239

Today on remaining below, NF will go up to 5346-5335 which is a good support. Chances are less but if NF manages to break 5335 then also 5308 is a major support. To keep this trend up NF should reverse from 5346-5335 or 5308. If NF breaks 5308 with huge volume and remains below it then expect sharp fall.

Till NF is above 5308, there is no problem for bulls.

Above 5410, 5440 is a level to watch. Around 5430-5440, 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.

Yesterday again market has gone up but with even declining volume of NF and declining total market turnover.

REGARDS

ANALYSENIFTY TEAM