On 25May, Nifty future have support at 4870 level, if this level is breached and sustained then bears will try to take the charge over bulls, and will try to slide down the markets till 4842-4805-4755 levels. However on downside 4840 will act as a barrier for bears, and in order to remain in the scene bulls must try to make the markets close above 4960 level. As mentioned earlier also, that consecutive close below 4960 level will be the first sign of bears coming back in game and will change the whole scenario. However, if Nifty fut maintains to sustain above the level of 4840, then we can see markets bouncing back in later hours. On upside the major hurdle is at 4948 level, once this level is crossed we will see nifty fut heading higher to the levels of 4984-5010-5035 in short time.
We recommend all traders to keep a watch on 5065 level on upside and 4800 level on dowside, as these two levels are very crucial for further market movement, and crossover of any of these will show sharp movements. All traders must trade with high cautious, as we are on verge of breakout of this range, so all trades must be done with strict stoplosses. One must keep booking bidirectional small profits time to time rather than expecting unidirectional gains. We have clearly told in our weekly market view that book long positions in range 5010-5065, and yesterday all of you must have watched the massive crash in markets from 5023 to 4910 levels. Hope all of you must have njoyed the highly accurate and timely update given by us. Stay tuned with Team EAIB.
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Nifty Levels
- Resistance - 4948-4984-5010-5035
- Support - 4870-4842-4805-4755
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