Tuesday, September 4, 2012

nifty view sep 4

GM
Today, while updating this SGX nifty is trading at 5279.
Today’s trading levels for Nifty Future:
Resistance: 5294-5320-5344-5361-5385-5412
Support: 5276-5249-5240-5216-5198-5176
Today, 5294 will be an immediate resistance for NF. If NF is not breaking 5276 and crosses 5294 then it will indicate strength of NF. But above 5294 there is a strong resistance of 5320, a strong supply area. On crossover above it will take NF to 5344-5361.
On lower side 5276 will be an immediate support for NF. If NF is not crossing 5294 and breaks 5276 and sustains below it then next support will be 5249-5240. On failing to hold these levels, NF will go up to 5216-5198.
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??????
Analysenifty team
 

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