Nifty Fut(NF), should sustain above 8415 zone for 8460 (TL Resistance) & 8505-8650 zone by next few weeks.
On the downside, break below 8340 zone, should invite 8298 & 8205 (Positional Support) zone in the near term.
In the domestic front, yesterday's cabinet expansion, specially appointment of Jayant Sinha (Ex-Havard Technocrat & son of Jaswant Sinha) as MOS (Finance) along with increasing reform pace tone by the FM and pressure on RBI to cut rate to ignite growth in the forthcoming policy meetings may fulled our market & NF could target 10500 zone by March'2015.
On the global front, as pointed earlier, there is no dearth of liquidity & some sluggish NFP job data on last Friday in US is also helping risk trade. But, renewed Ukraine tension may cast some shadow on it and as a follow up & also because of technical bounce back, precious metals (Gold/Silver) should be able to stand on its feet lately.
Trading Levels: Nifty Fut (NOV):
| Gap Up/Dw | (Indicative) | |||||
| SGX NIFTY | 8403 | 11 | ||||
| NF-NOV | LTP | 8392 | ||||
| SL >/< 5 POINTS | FROM SLR | |||||
| Intraday Swing | Trader | |||||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8415 | 8437-8461* | 8480-8505 | 8528-8560 | <8395 | |
| Weak < | 8395 | 8365-8340* | 8325-8298 | 8266-8242 | >8415 | |
| FOR | Conservative | Positional | Trader | |||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8415 | 8461* | 8505 | 8560-8650 | <8395 | |
| Weak < | 8395 | 8340* | 8298 | 8242-8205 | >8415 | |
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