nifty view april13

Hi,

Yesterday we had written: “On lower side, on remaining below 5267, again NF will go up to 5201”.

Yesterday just for few seconds of opening trade NF made low of 5260 else it remained well above 5267 for entire day.

For upper side we had written: “Today above 5267, 5282-5293-5303 is a strong resistance zone again. On crossover above it will lead to huge short covering”.

Apart from opening trade, NF remained above 5267, made high of 5308.40 and closed at 5290.65.

Today, while updating this SGX nifty is trading at 5333.

Today’s trading levels for Nifty Future:

Resistance: 5352-5410-5425-5456

Support: 5284-5279-5201-5188

Today above 5284, NF will go up to 5352. 5352 will provide good resistance. On crossover above it with huge volumes and remaining above it will take NF to 5410-5425. Above 5410-5425, it will increase chances of 5456.

On lower side, 5284-5279-5260 are last supports for bulls. Till NF is above this support zone, there is no problem for bulls.

There is a strong channel resistance around 5330 in NS. We have attached NS daily chart for your reference. Cross over above 5330 and close above it in NS will give huge breakout.

Regards,

analysenifty team