Nifty view june 6

Hi,

Yesterday we had written: “Today, 4859 will be first hurdle for bulls. On opening/remaining above/below will indicate strength and weakness of NF respectively. On crossover above 4859 will take NF to 4886. Here we will witness aggressive selling from bears. If NF manages to cross and sustain above 4886 then next level is 4926”.

Yesterday NF made high of 4878.80 and crashed.

Also we had written: “On lower side 4811-4807 are immediate supports for NF. If NF is not crossing 4859 and breaks 4811-4807 then expect sharp panic in the market”.

In panic NF made low of 4822.10 and reversed to close at 4846.30.

Today, while updating this SGX nifty is trading at 4878.

Today’s trading levels for Nifty Future:

Resistance: 4853-4876-4886-4895-4926-4949

Support: 4822-4811-4788-4760-4720-4701

Today, above 4853, there is a strong resistance zone of 4876-4886-4895. There will be huge supply again around this resistance zone. On crossover and sustaining above 4895 will take NF to 4926. 4949 is last hope for bears.

On lower side 4853 will provide strong support if NF is opening above it. This time on break below 4853 with volumes will take NF to 4822-4811. On break below and sustaining below 4811 with huge volume will take NF to 4720-4701.

Regards,

analysenifty team