Today Nifty fut will face resistance at 5465 level, once this level is crosses and sustained for some time , we will see markets to go to higher levels of 5492-5524-5575 levels. At any rise above 5445 level traders must hold long positions with trailing stoploss, as we may see profit booking coming in range 5445-5575, if bulls fail to retain the gains for a longer time. However, on lower side now 5422 is support level. Any good news for bears will come only if the Nifty fut, breaches and sustains below 5422 mark, and if it happens we can see markets sliding down to 5380-5348-5320 levels. Till Nifty fut is trading above the level of 5380 bulls are stronger than bears, so all intraday dips can be used for buying and any rise till 5492 must be used for profit booking.
For a sustainable uprise in coming days, Nifty fut must close consecutively above 5445 level. Till Nifty fut is unable to do so, bears will continue to attack decisively at every rise. So in order to have an upperhand in market, bulls have to manage to cross & sustain above 5445 at earliest. Nifty fut range for the day will be 5380-5492, breakout of this range on either side can show sharp movements. On higher levels dont create fresh long, instead keep booking profits as we may see bear attack at higher levels.
For a sustainable uprise in coming days, Nifty fut must close consecutively above 5445 level. Till Nifty fut is unable to do so, bears will continue to attack decisively at every rise. So in order to have an upperhand in market, bulls have to manage to cross & sustain above 5445 at earliest. Nifty fut range for the day will be 5380-5492, breakout of this range on either side can show sharp movements. On higher levels dont create fresh long, instead keep booking profits as we may see bear attack at higher levels.
Nifty Levels
- Resistance - 5465-5492-5524-5575
- Support -5422-5380-5348-5320
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