Monday, August 6, 2012

NIFTY VIEW AUG 6

Today, while updating this SGX nifty is trading at 5289.
Today’s trading levels for Nifty Future:
Resistance: 5268-5282-5292-5316-5323
Support: 5239-5217-5176-5168
Today, again 5268 will provide resistance for NF. On crossover above 5268 will take NF to 5282-5292. One has to be alert around 5282-5296 zone as it is a huge supply zone and there is a gap at 5280-5313. 5316-5323 is also a strong resistance for NF.
Now on lower side 5239 and 5217 are strong supports for NF.
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

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