GM
Today, while updating this SGX nifty is trading at 5396.
Today’s trading levels for Nifty Future:
Resistance: 5388-5406-5417-5440-5454-5468-5514
Support: 5363-5351-5346-5320-5297-5256
Today,
5388 will be an important level for NF. On open/sustaining above/below
will indicate strength and weakness of NF respectively.
On
sustaining above 5388 will take NF to 5406-5417 which is still a strong
resistance. If NF manages to cross this level then also 5440-5454 are
another zone from where one can expect huge supply. On crossover above
5454 with volume and close above 5454 will increase chances of 5514 but
one has to alert now.
On
sustaining below 5388 will take NF to 5363-5351-5346 levels which are
strong supports for NF. Ideally to keep this trend up NF must protect
these levels. Bulls will give their best to protect these levels. Break
below 5320 will confirm the end of this uptrend.
Now,
if NF is breaking 5320 level then exit from all long position
immediately. We are expecting top of this rally on this Friday or on
next Tuesday and then sharp fall in the market. Reason, we don’t know.
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
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