Nifty Fut (NF-Jan) has strong support level around 8260 zone ans sustaining below that, it could drift to 8153-8075 area.
On the upside, NF has to close above 8310 & 8366 zone to regain its momentum towards life time high again.
A sudden unwind of positions by a FII hedge fund (??) in the last hour of trading on the expiry day caused the index in some turmoil, though there was some positive news like Coal & Insurance bill ordinance. We could expect some belated Santa rally/year end rally in our market as well as global market (S&P poised to break 2100 zone shortly---).
Trading Levels: Nifty Fut (NSE-Jan)
| Gap Up/Dw | (Indicative) | |||||
| SGX NIFTY | 8284 | 7 | ||||
| NF-JAN | LTP | 8277 | ||||
| SL (+/-) 10 POINTS | FROM SLR | |||||
| Intraday Swing | Trader | |||||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8260 | 8280-8310 | 8345-8375* | 8390-8419 | <8240 | |
| Weak < | 8240 | 8216-8196 | 8170-8147* | 8121-8096 | >8260 | |
| FOR | Conservative | Positional | Trader | |||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8260 | 8310 | 8375* | 8419-8455 | <8240 | |
| Weak < | 8240 | 8196 | 8147* | 8096-8075 | >8260 | |
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