Monday, October 8, 2012

NIFTY VIEW OCT 8

GM
Today, while updating this SGX nifty is trading at 5776.
Today’s trading levels for Nifty Future:
Resistance: 5781-5794-5825-5858-5897-5933
Support: 5746-5732-5704-5697-5644
Today, 5781-5794 are immediate resistances for NF. On crossover above 5794 with volumes and sustaining above it will take NF to 5825, during this one has to watch 5809-5819. On crossover above 5825 will lead to huge short covering which will take NF to 5858 and above.
On lower side 5746-5732 are immediate supports for NF. On break below it will take NF to 5704-5697. Bulls will try their best to protect 5746-5732. Below 5697, expect fall up to 5644.
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 had given sharp rally on the news of bailout package. What will happen if that news proves wrong?
 
REGARDS 
ANALYSENIFTY TEAM

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