For NF, 8155-8170 zone may offer some intermediate resistance, sustaining above which 8200 zone will be immediate target & 8500 zone will be the next big target by this month end.
On the downside, 8115-8100 zone is intermediate support, sustaining below which 8000/7946 zone will be the major support area.
Globally, all eyes will be on Draghi(ECB Meeting & rate/QE decisions) tomorrow. Draghi may not introduce any fresh QE type of stimulus right now, given the fact that EURO is already 6% down since his Jackson Hole speech, advocating for a lower EURO (which may help EU to fight deflation & stimulate its economy). In case of no immediate QE in EU, EURO should pop up against DOLLAR & that should help risk on rally further. Even, there is some QE in near future in EU, it should add further liquidity for our own market along with Modinomics.
Trading Levels: Nifty Fut(NSE-SEP)
| Gap Up/Dw | (Indicative) | |||||
| SGX NIFTY | 8128 | 2 | ||||
| NF-SEP | LTP | 8126 | ||||
| SL >/< 5 POINTS | FROM SLR | |||||
| Intraday Swing | Trader | |||||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8120 | 8143-8175* | 8203-8230 | 8250-8275 | <8100 | |
| Weak < | 8100 | 8080-8050* | 8022-8004 | 7978-7946 | >8120 | |
| FOR | Conservative | Positional | Trader | |||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8120 | 8175* | 8230 | 8275 | <8100 | |
| Weak < | 8100 | 8050* | 8004 | 7946 | >8120 | |
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