For Nifty Fut (NF), 9045-9065 zone will be immediate resistance, followed by 9125 zone. Rate cut hopes (at least 0.25 BPS) on 3-rd Feb may keep the momentum going and before budget, NF may touch 9300 area.
On the downside, 8970 zone may act as immediate support (intraday), below which comes 8915-8885 zone (Positional support as of now).
Globally, all eyes will be on the PMI data of China on the weekend (Sunday) & RBA (AUD) decision on 3-rd Feb (there was some heavy rate cut speculation yesterday & it aided dollar strength).
Trading Levels: Nifty Fut (NSE-FEB)
| Gap Up/Dw | (Indicative) | |||||
| SGX NIFTY | 9015 | 29 | ||||
| NF-FEB | LTP | 8986 | ||||
| SL (+/-) 10 POINTS | FROM SLR | |||||
| Intraday Swing | Trader | |||||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8990 | 9022-9065* | 9104-9125 | 9145-9167 | <8970 | |
| Weak < | 8970 | 8936-8915* | 8900-8885 | 8847-8817 | >8990 | |
| FOR | Conservative | Positional | Trader | |||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8990 | 9065* | 9125 | 9167-9200 | <8970 | |
| Weak < | 8970 | 8915* | 8885 | 8817-8795 | >8990 | |
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