Hi,
Yesterday we had written: “Today one has to watch 4881 level very carefully. Open/sustain below 4881 will indicate weakness and open/sustain above 4881 will indicate strength of the market. On break below 4881, NF
will go up to 4871. Chances are less but if NF manages to break 4871
then it will go up to 4837, another strong support. 4802 is last hope
for bulls”.
NF opened at 4896.65 (remained above 4881) and given rally up to 4931.95. In last few minutes given panic selling and made day low of 4882.40 but could not break 4881.
Today, while updating this SGX nifty is trading at 4934.
Today’s trading levels for Nifty Future:
Resistance: 4911-4954-4976-5003-5035-5046
Support: 4888-4850-4808-4767
Today
on crossover above 4911 with huge volumes will take NF to 4954-4976. On
break above 4954-4976 will give rally up to 5003. 5035-5046 is another
resistance zone from where supply may come. Also we have attached NF
hourly chart in which there is a channel resistance which comes around
4960-4970 so one has to watch it carefully.
Now
on lower side 4880 and 4850 are strong supports which are likely to
held. If something is really bad then only NF will break 4850, so till
NF is above 4850 there is no problem for bulls.
Regards,
analysenifty team
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