As par SGX Nifty, our market could open around 8227 level of Nifty Fut (NF).
Immediate positional support for NF is now 8224-8208 zone & sustaining below that, may further fall to 8048-7946 zone.
On the upside, sustaining above 8248 & 8294 zone, NF may face resistance around 8315-8395 area.
Overall, we have completed around 5% correction of intermediate top of around 8665 few days ago.
Given the abnormal shrinkage in IIP no & comfortable CPI released on last Friday evening, rate cut pressure on RBI may be mounting more & we may see some action (Short Covering ?) in our market.
Trading Levels: Nifty Fut (NSE-DEC)
| Gap Up/Dw | (Indicative) | |||||
| SGX NIFTY | 8229 | -47 | ||||
| NF-DEC | LTP | 8276 | ||||
| SL (+/-) 10 POINTS | FROM SLR | |||||
| Intraday Swing | Trader | |||||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8200 | 8224-8248 | 8272-8294* | 8316-8350 | <8180 | |
| Weak < | 8180 | 8160-8145 | 8097-8078* | 8048-8033 | >8200 | |
| FOR | Conservative | Positional | Trader | |||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8200 | 8248 | 8294* | 8350-8392 | <8180 | |
| Weak < | 8180 | 8145 | 8078* | 8033-7946 | >8200 | |
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