Hi
Today, while updating this SGX nifty is trading at 4868.
Today’s trading levels for Nifty Future:
Resistance: 4891-4896-4902-4937-4951-4984
Support: 4812-4801-4751
Today
on upper side NF will face resistance around 4891-4896-4902. If NF
manages to cross these levels then next resistance will come around
4937-4951. Again some supply can come from these levels. NF is crossing
these levels too then it will go up to 4984.
On lower side 4827 will provide good support. If NF breaks 4827 then also 4812-4801 are another area where bulls will re-enter.
This is 13th
week from the high of 5635 so this week will be very crucial. We may
see some bottom before another downside in this week. Market has now
entered in to highly oversold zone on daily basis so unless there is
some major bad news, we may see some bounce from around 4900 level or
from 4800 level.
Yesterday NF had taken a support on a long term weekly trend line that to in 13th week so chances are bright for short term reversal. We have attached NF weekly chart for your reference.
Regards,
analysenifty team
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