On 4 November, Nifty fut has support at 4530 level,if it holds above this level then we can see a bounceback coming in markets. In current scenario markets are trading in highly oversold zone, so traders must stay cautious in short positions. On upside, Nifty fut has resistance at 4635 level, if it maintains to close above this level then we can see a small upside move in markets in coming days. This upside can yield higher levels of 4665-4684-4715. But traders must stay cautious and use this rise for exiting the long positions, as the rise might fizzle out in later days. On lower side, if Nifty fut breaks the support level of 4520, then we can see sell off again coming in, and that can slide down Nifty fut to the levels of 4490-4455-4412 levels. Any close below 4450 level will once again create panic among the investors and will be a warning bell for bulls in coming days.
We recommend all traders to keep a watch on range 4490-4635 for intraday, as this range will act as a crucial range and will decide the trend for coming days. Traders must keep booking profits in all trades without greed, as if now markets can show some ambiguous move. We need to close above the upper limit in order to have a small uptrend, failing to do so we markets will be in hands of bears.
Nifty Levels
Resistance - 4594-4635-4665-4684
Support - 4520-4490-4455-4412
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Intraday Calls
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Only Accuracy Here!!!!
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