Nifty Fut(NF) will have to sustain above 8950 zone for target of 9000/9100 area and 9300 (before budget) and 9600 (after budget, if it really affirm the 2-nd generation reform process).
On the downside, 8880-8860 area should provide support & sustain below that 8665 zone will be the major positional support for the time being.
On the global front, all eyes would be to the Fed Minutes today at late night. But, by the Durable Goods report of the US yesterday, FED may not change its basic language ("PATIENT") until March'2015 and ultimately it may be forced to think about real rate hike in Jan'2016 (with lots of caveats of course).
Trading Levels: Nifty Fut (NSE-JAN)
| Gap Up/Dw | (Indicative) | |||||
| SGX NIFTY | 8900 | -18 | ||||
| NF-JAN | LTP | 8918 | ||||
| SL (+/-) 10 POINTS | FROM SLR | |||||
| Intraday Swing | Trader | |||||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8880 | 8930-8950* | 8985-9001 | 9035-9065 | <8860 | |
| Weak < | 8860 | 8834-8818* | 8793-8777 | 8743-8710 | >8880 | |
| FOR | Conservative | Positional | Trader | |||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8880 | 8950* | 9001 | 9065-9102 | <8860 | |
| Weak < | 8860 | 8818* | 8777 | 8710-8657 | >8880 | |
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