Friday, 6 April 2018

Market Mantra: Nifty, Bank Nifty Future (06_04_18)

Market Mantra: 06/04/2018

Updated: 07:45

SGX-NF: 10340 (-17; +0.16%)

Expected BNF opening: 24900 (+0.20%)

(Flat opening on RBI optimism and subdued global cues amid renewed tensions of the trade war after Trump doubles down his rhetoric late Thursday and plans for another $100 bln tariff on Chinese imports)

March-Fut (Key Technical Levels)

Support for NF:


Resistance to NF:


Support for BNF:


Resistance to BNF:


Technical View (Positional):

Technically, Nifty Fut-March (NF) has to sustain over 10395 for a further rally towards 10425/10465-10500/10545-10600/10650 in the short term (under bullish case scenario). 

On the flip side, sustaining below 10375 NF may fall towards 10295/10270-10230/10190-10150/10100 in the short term (under bear case scenario).

Technically, Bank Nifty-Fut (BNF) has to sustain over 25000 for a further rally towards 25100/25300-25500/25850-26075/26255 in the near term (under bullish case scenario).

On the flip side, sustaining below 24950, BNF may fall towards 24750/24600-24450/24300-24200/24100 in the near term (under bear case scenario).



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