For Nifty Fut(NF), 8880-8900 zone may offer some intermediate resistance and sustaining above that it could reach 9030-9065 zone again by this week. Before budget, NF could scale 9300 on budget hopes and if the budget truly delivers the expected 2-nd Generation Reform, 9600 is in the offing (there will also be some rate cut hope after budget).
As the USA market closed today, movement in our market may be muted. Also its extremely over bought in the intraday chart. So, some retracements should occur, if it fail to sustain above 8880-9000 zone today. Immediate intermediate support should be near 8775 and below that 8729-8690 zone should offer positional support as of now. Our market will keenly watch WPI figure today.
Trading Levels: Nifty Fut(NSE-FEB)
| Gap Up/Dw | (Indicative) | |||||
| SGX NIFTY | 8853 | -19 | ||||
| NF-FEB | LTP | 8872 | ||||
| SL (+/-) 10 POINTS | FROM SLR | |||||
| Intraday Swing | Trader | |||||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8900 | 8925-8955 | 8975-9000* | 9030-9065 | <8880 | |
| Weak < | 8880 | 8851-8833 | 8806-8777* | 8729-8690 | >8900 | |
| FOR | Conservative | Positional | Trader | |||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8900 | 8955 | 9000* | 9065-9300 | <8880 | |
| Weak < | 8880 | 8833 | 8777* | 8690-8612 | >8900 | |
No comments:
Post a Comment