Yes, finally the charts are starting to work again, as the bears took control in last few days and while the bulls took a much needed rest. For now let’s just see what the bulls can muster up tomorrow, and how high they can take it back up? On 18November, Nifty fut will face resistance at 6024 level, crossing and sustaining above this level will make Nifty fut move forward on upside, and on way to upside it can move forward to 6048-6080-6117 levels. However in short term 6117 level will act as a major hurdle on upside, and in order to make Nifty surge up to new recent highs, before the final correction takes place, Nifty has to sustain and close above 6117 level. In this volatile sessions, if nifty fut is unable to cross the resistance level, and goes on downside, then it has a support at 5965 level, breaching below this level we can see Nifty fut sliding down to the levels of 5940-5924-5880. However 5924 level can act as good support level on downside, and also as a sentimental level for all traders.
We recommend all traders to trade with strict stop losses and keep booking small profits in day trade, as the range for day trade in Nifty is very narrow and we can see W-shaped movement in markets. For intraday keep watch on 5924 level on lower side and 6048 level on upside,as these levels can act as trend reversal levels. Any upsurge will be only if nifty sustains above 6048 level. In coming days get ready for sharp one side movement in markets. As in last few days everyone witnessed oneside movement from 6349 to 5970, now get ready for next round of oneside movement. In october we told you all that till November expiry get ready to see dicy onesided sharp moves, now result is in front of you all. From 29 October from 5956 levels nifty fut went to new highs of 6349 and now again down to 5970 on 16November , almost the same levels of 29october i.e. a movement of approximate 380pts on both sides. Do your own study, and execute the trades as per your wisdom.
We recommend all traders to trade with strict stop losses and keep booking small profits in day trade, as the range for day trade in Nifty is very narrow and we can see W-shaped movement in markets. For intraday keep watch on 5924 level on lower side and 6048 level on upside,as these levels can act as trend reversal levels. Any upsurge will be only if nifty sustains above 6048 level. In coming days get ready for sharp one side movement in markets. As in last few days everyone witnessed oneside movement from 6349 to 5970, now get ready for next round of oneside movement. In october we told you all that till November expiry get ready to see dicy onesided sharp moves, now result is in front of you all. From 29 October from 5956 levels nifty fut went to new highs of 6349 and now again down to 5970 on 16November , almost the same levels of 29october i.e. a movement of approximate 380pts on both sides. Do your own study, and execute the trades as per your wisdom.
Nifty Levels
- Resistance - 6024-6048-6080-6117
- Support - 5965-5940-5924-5880
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