Technical Outlook Of Nifty Fut (April): 1-5 days

Yesterday may be a sad day for many of us (both from Cricket & Market perspective). But we must remember that Australia is truly the number one team in all aspects of cricket & despite superb momentum in all the other previous games, India failed miserably in the crucial match.

Now, for Nifty Fut (NF), vital support zone is 8400-8370 zone (For NS, its 8300-8270) and consecutive closing below that, NF may dip to 8233-8186 zone (For NS 8158-8102).

On the up side, NF need to sustain above the previous broken TL of around  8506 (For NS 8470) for gaining momentum towards 8745-8840 zone. (For NS 8720-8815).

Globally, S&P-500 also took support from its vital zone of near 2029 yesterday & now comfortably trading over 2045 around 2055 zone. Above 2062, it may again target its previous cycle high of 2106-2118 and may touch 2135 also.

Somewhat hawkish comments about Fed rate hike probability from some Fed members (Lockhart & Bullard, who are supposed to be in the dove club of the FOMC) caused the sliding of S&P-500 for the past few days.

Personally, I feel that this type of contradictory chit chat by different Fed Members will continue to go on through out the year to control the market (USD). It is not possible for the Fed to tell the world clearly that they are not in a position or have enough confidence to be ultra hawkish on Fed policy and will be preferred to be on the side line for 2015-16 (or for ever ?)

Conflict in Yemen involving OPEC countries certainly has helped Crude oil for a long deserving bounce back (short covering), but, it may have limited impact on the global stock market. Yemen, being a extremely failed country virtually run by extremists, no body bothers about it being attacked by external countries in order to restore peace & stability and take control of oil & military assets.

On the domestic front, there was no such negative news except some overdone concerns of poor corporate earnings in the 4-th QTR. Our market may be well poised for a deserving bounce back.


Trading Levels: Nifty Fut (NSE-APRIL)

		Gap Up/Dw	(Indicative)
SGX NIFTY	8457	1
				NF-APR	LTP	8456
	SL (+/-) 10 POINTS	FROM SLR
	Intraday Swing	Trader
			T1	T2	T3	SLR
Strong >	8430		8471-8496	8529-8581*	8627-8700	<8410
Weak <	8410		8374-8357	8340-8308	8261-8215	>8430
FOR	Conservative	Positional	Trader
			T1	T2	T3	SLR
Strong >	8430		8496	8581*	8700-8745	<8410
Weak <	8410		8357	8308*	8215-8185	>8430