Nifty Fut(NF) (LTP-8846) has positional support zone of around 8800-8780 and sustain below that may invite 8637 & 8515 area.
On the upside, it has to sustain above 8895-8940 zone for 9030-9065 and 9300 zone (after dream budget ??).
Budget sessions will start today and Govt. has to pass various reform bills those were under ordinance (Insurance/Land/Coal), which may not be a smooth affair, specially for Land Reform Bill. On the other hand, budget and rate cut hopes may keep the market alive & volatile.
On the global front, Greece has to submit its future plan for reforms by today after getting four month extension after a week long soap-opera. The drama will continue till June'2015 and possibly more to come. In addition, all eyes will be on Draghi and Yellen tomorrow for their speeches tomorrow.
Trading Levels: Nifty Fut (NSE-FEB)
| Gap Up/Dw | (Indicative) | |||||
| SGX NIFTY | 8855 | 9 | ||||
| NF-FEB | LTP | 8846 | ||||
| SL (+/-) 10 POINTS | FROM SLR | |||||
| Intraday Swing | Trader | |||||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8800 | 8850-8893 | 8922-8940* | 8956-8992 | <8780 | |
| Weak < | 8780 | 8747-8707 | 8675-8637* | 8604-8553 | >8800 | |
| FOR | Conservative | Positional | Trader | |||
| T1 | T2 | T3 | SLR | |||
| Strong > | 8800 | 8893 | 8940* | 8992-9030 | <8780 | |
| Weak < | 8780 | 8707 | 8637* | 8553-8515 | >8800 | |
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