Nifty Fut (Feb): 7215-7110 Zone Very Crucial---

NF has to sustain above 7370-7410 zone for any strength up to 7590-7685

Otherwise, 7110-6850 may be on the card

Apart from Oil & China, probable US recession 

And EU credit problem is now the prime concern for the global market

Yellen testimony (likely to be dovish) may provide some temporary relief 

But, forthcoming budget session may be another washout except passage of budget

as probability of political consensus for passage of crucial reform bills 

including GST is very little

Trading Levels: Nifty Fut (Feb)

SGX-NF: 7250 (CMP)

NSE-NF: 7330 (LTP)

	SL (+/-) 10 POINTS	FROM SLR
For	Intraday Swing	Trader
			T1	T2	T3	T4	T5	SLR
Strong >	7215		7235-285*	7305-345	7385-411*	7445-490	7540-590*	<7195
Weak <	7195		7160-110*	7040-7000	6940-885*	6835-780	6745-700	>7215
FOR	Conservative	Positional	Trader
			T1	T2	T3	T4	T5	SLR
Strong >	7215		7285*	7345	7411*	7490	7590-685	<7195
Weak <	7195		7110*	7000	6885*	6745	6700-550	>7215

Technically, NF may be in the 2-nd wave (daily EW cycle) and the extended target of the same is around 7215. Consecutive closing below this 7215 zone, NF may further fall to 7110-7000-6850 level. In the alternative scenario, if NF failed to sustain below 7215, we may see some relief rally up to 7370-7410* and 7540-7590 & 7685 zone.

Analytical Charts: