NIFTY VIEW OCT 15

GM

Today, while updating this SGX nifty is trading at 5688.

Today’s trading levels for Nifty Future:

Resistance: 5704-5714-5738-5756-5806-5858

Support: 5679-5644-5631-5599-5586

Today, 5704-5714 are immediate resistance for NF. On crossover above 5714 with volumes will take NF to 5738-5756. NF has faced strong resistance around 5738 on last two attempts. Now, on crossover and sustaining above 5738-5756 will lead to short covering which will take NF to 5806. Above 5806, NF can go up to 5858.

On lower side 5679 is a good support. On break below it and sustaining below it will take NF to 5644-5631. If NF manages to break 5644-5631 will take NF to 5599-5586.

Opening/sustaining above/below will indicate strength/weakness of NF respectively.

If NS manages to break 5636 and sustain below it then it will trigger Head and Shoulder break out of 175 points.

Some suspicious selling was happened on last Friday in Nifty stocks. What was it, a genuine mistake or some indication?

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 is giving some rally, let’s see how it manages to sustain above 2100.

Regards,

ANALYSENIFTY TEAM