Nifty Fut(NF) seems to have taken positional support of 8490 zone yesterday & it has to sustain above 8685 area today in order to restore previous high again around 9000 zone.
Sustain below 8490 zone could invite 8300 area (8440 zone may offer some intermediate support).
AAP victory was more or less discounted in the market for the last few sessions and a massive short covering coupled with good DII support prevented blood bath yesterday. Now market will look into budgets and sincerely hope that AAP will be a business/investment friendly Govt. in Delhi backed by "Power of Common People". On the other hand, BJP will have to be in some sort of reality check and should ensure that benefit of reforms could reach "ordinary common people" of the country, mere talks may not work after budget or FY-2016 (until it get majority in RS), Country need action.
Trading Levels: Nifty Fut(NSE-FEB)
| Gap Up/Dw | (Indicative) | |||||
| SGX NIFTY | 8618 | -7 | ||||
| NF-FEB | LTP | 8625 | ||||
| SL (+/-) 10 POINTS | FROM SLR | |||||
| Intraday Swing | Trader | |||||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8590 | 8637-8685* | 8701-8720 | 8750-8795 | <8570 | |
| Weak < | 8570 | 8541-8515* | 8485-8440 | 8412-8394 | >8590 | |
| FOR | Conservative | Positional | Trader | |||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8590 | 8685* | 8720 | 8795-8882 | <8570 | |
| Weak < | 8570 | 8515* | 8440 | 8394-8317 | >8590 | |
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