nifty view 30 july

 GM

Today, while updating this SGX nifty is trading at 5165.

Today’s trading levels for Nifty Future:

Resistance: 5138-5148-5159-5179-5199-5210-5232-5238

Support: 5106-5093-5071-5031-4991

Today, above 5138, 5148-5159 will be hurdles for NF. On crossover above it will take NF to 5179 level which will again be a crucial level to watch. On crossover above it will take NF to a strong supply zone of 5199-5210-5232-5238.

On lower side 5106-5093 are strong supports. If NF manages to break 5106-5093 levels with huge volume than chances are less for NF to stop at 5071 but one has to be careful around that level.

For time being 5031 is a strong base on lower side. As and when NF will break this level expect sharp fall in the market with and really bad news.

NF has made low on 13^th day from the high of 5364 and as expected NF has given reversal.

We had already written this: “We are expecting a rally at least up to 5400 before any further sizable correction or before any crash in the market. It can be a best chance to exit from the market. But don’t be rigid and trade with levels only”.

Alert: Chinese Shanghai composite index is around 3years low and no one is discussing about it. Day by day china’s Shanghai composite index is making new lows, why??????

Regards,

analysenifty team