NIFTY VIEW OCT 1

GM

Today, while updating this SGX nifty is trading at 5718.

Today’s trading levels for Nifty Future:

Resistance: 5730-5761-5782-5793-5828

Support: 5705-5696-5675-5661-5644-5634-5605

Today, 5730 will be an important level to watch. On opening and remaining above it will take NF to 5761-5782-5793. Above 5793, NF will go up to 5828.

On lower side 5705-5696 are strong supports for NF. If NF manages to break these levels too then also there is a strong support around 5675-5661. Break below 5661 with volumes and sustaining below it will lead to sharp panic in the market and it will take NF to 5605. One has to keep watching 5644-5634 level carefully.

In last week NF has given some surprisingly sharp up moves. This kind of move happens in two extreme scenario, either we have entered in a long term up move which will cross previous high of 6349 or we are going to make a critical top before going down to/below 4000 or more lower level.

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??????

Shanghai, back to bottom!!!

Regards,

ANALYSENIFTY TEAM