On yesterday also we had written: “On lower side, today also 5229 will be a good support for NF. On break below 5229 with huge volume and sustaining below it will take NF to 5201”.
Yesterday, in panic NF made low of 5199 but bounced back above 5201 immediately, could not sustain below 5201.
Today, while updating this SGX nifty is trading at 5241.
Today’s trading levels for Nifty Future:
Resistance: 5229-5236-5262-5282-5323-5366
Support: 5199-5161-5114-5093-5063
Today,
on upper side 5229-5236-5240 are immediate resistances for NF. On
sustaining above 5240 will take NF to 5262 which will provide
resistance. If NF manages to cross this level then it will go up to
5282, where bears will be highly aggressive. 5323 is last hope for
bears.
On lower side, now 5199 will be a good support for NF. Below 5199 expect non stop fall up to 5161 level.
If
NF is not breaking 5199 and closes above 5236 then chances are bright
for the rally up to 5400 in next few days. One can take chance of going
long above 5236 with small and strict stop loss.
Regards,
ANALYSENIFTY TEAM
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