Friday, 2 June 2017

Nifty May Open Gap Up Following Upbeat Global Cues/US Market Amid Hopes Of A Blockbuster NFP Job Data Later In The Day Today; Indian Market May Be Cautious About GST Roll Out On 1st July As The Country May Not Be Fully Ready Yet

Market Mantra: 02/06/2017 (08:30)

SGX-NF: 9670 (+39 points)

For the Day:

Key support for NF: 9645/9595-9560/9525

Key resistance for NF: 9700-9770

Key support for BNF: 23150-22950

Key resistance for BNF: 23400-23500

Hints for actionable trading ideas:

Time & Price action suggests that, Nifty Fut (May) has to sustain over 9725 area for further rally towards 9770-9825& 9865-9925 in the short term (under bullish case scenario).

On flip side, sustaining below 9700 area, NF may fall towards 9595/9560-9525 & 9475-9395 area in the short term (under bear case scenario).

Similarly, BNF has to sustain over 23400 area for further rally towards 23500-23650 & 23875-24000 area in the near term (under bullish case scenario).

On the flip side, sustaining below 23350 area, BNF may fall towards 23150-22950 & 22750-22550 area in the near term (under bear case scenario).


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