Nifty Fut(NF) suffered a global blood bath yesterday although there was no such surprising negative news domestically. Technically S&P has good positional support level around 1974-1968 zone & it bounced back yesterday from 1985 zone (5% of its intermediate top).
Going forward, NF has some support around 8111-8078 area, sustaining below which 8007-7940 may come (low probability as of now).
On the upside, NF has to trade above 8216 zone for any meaningful reversal of yesterday's downtrend.
Trading Levels: Nifty Fut(NSE-JAN)
| Gap Up/Dw | (Indicative) | |||||
| SGX NIFTY | 8130 | -20 | ||||
| NF-JAN | LTP | 8150 | ||||
| SL (+/-) 10 POINTS | FROM SLR | |||||
| Intraday Swing | Trader | |||||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8100 | 8120-8148 | 8185-8216* | 8254-8290 | <8080 | |
| Weak < | 8080 | 8045-7993 | 7964-7940* | 7910-7894 | >8100 | |
| FOR | Conservative | Positional | Trader | |||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8100 | 8148 | 8216* | 8290-8316 | <8080 | |
| Weak < | 8080 | 7993 | 7940* | 7894-7863 | >8100 | |
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