Friday, November 2, 2012

Nifty view nov 2

GM
Today, while updating this SGX nifty is trading at 5704.
Today’s trading levels for Nifty Future:
Resistance: 5702-5735-5763-5795
Support: 5675-5666-5608-5586-5570
Today, 5702 will be an immediate resistance for NF. If NF manages to cross this level then also 5735 is strong resistance for NF. On crossover above 5735 with huge volume and sustaining above only will take NF to 5763.
For lower side, 5675-5666 are good support for NF. Below these levels, Still 5608 is a good support for NF. On break below it will take NF to 5586-5570. Below 5570, NF will go up to 5547 which is another strong support.
On if something positive is coming on GAAR issue on today or tomorrow then only NF will cross 5700, even 5856. If something is wrong in GAAR issue then bears will kill this market.
Regards,
ANALYSENIFTY TEAM

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