Technical Outlook Of Nifty Fut(NSE-JAN):1-5 days

As par SGX Nifty, our Nifty Fut(NF) may open around 8865 zone, thanks to ECB QE overnight.

For intraday, 8885 & 8910 could act as resistance & sustaining above that 9000 zone will be on the card today, followed by 9300 by next week, if Greece throws no nasty surprise.

Immediate intraday support for NF could be 8850 zone & below that 8815-8795 area should give us positional support as of now.

Yesterday's ECB QE @ EURO 60 B per month for 18 M (Total EURO 1.1 T) or be kept open, if required (open ended), is somewhat above market estimates. This QE will keep the tap open, even if FED decides to raise rate by mid 2015. But, with this ECB QE, FED will have to choose, if it let USD to gain more strength (by hiking rate) or have confidence that this ECB move could stimulate global growth (so that FED could normalize policy).


Trading Levels: Nifty Fut(NSE-JAN)

		Gap Up/Dw	(Indicative)
SGX NIFTY	8865	81
				NF-JAN	LTP	8784
	SL (+/-) 10 POINTS	FROM SLR
	Intraday Swing	Trader
			T1	T2	T3	SLR
Strong >	8815		8835-8853	8885-8910*	8950-8988	<8795
Weak <	8795		8773-8736	8707-8660*	8631-8574	>8815
FOR	Conservative	Positional	Trader
			T1	T2	T3	SLR
Strong >	8815		8853	8910*	8988-9010	<8795
Weak <	8795		8736	8660*	8574-8552	>8815