Market Mantra: 06/04/2018
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).