On 23February, Nifty fut will face resistance at 4884 level, once the bulls manage to suatain above this level markets will rally till next resistance levels of 4898-4910-4935. In order to continue uptrend, Nifty fut have to cross n sustain above the level of 4935 in coming days, if this happens then we can see markets heading towards 4972-5048-5130+ levels. However, longer the nifty fut sustains below 4935, stronger will be the bears for attack. So, bulls have to make sure to maintain & start the uptrend soon, in order to retain strength. However, if beas are able to stop the bulls from marching ahead , then on lower side bulls hae support at 4825 level, once thislevel is breached we can see markets sliding down to a major support level of 4796-4770-4730. Any close below 4770 will be the first signs of bears coming back into the action. On intraday rise we recommend all members to go short instead of doing fresh buying, as 4898-4935 is a major resistance level for markets.
Nifty Levels
- Resistance - 4884-4898-4910-4935
- Support - 4840-4825-4796-4770
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