NIFTY FUT (5664.45)
Closing Base Support and Resistance
Nifty Support at 5650-5614-5578
Nifty Resistance at 5708-5730-5805
Nifty Support at 5650-5614-5578
Nifty Resistance at 5708-5730-5805
Today market will open down side with little gap down. Today we recommend to remain neutral in market. New short positions not advisable at current level. 5614 is good support for nifty on closing basis. Today is Friday end of the week and Next week is last week of F&O expiry. Market will be highly volatile. Today market may end flat or positive side. If in any case nifty close below 5600 then market is entering in highly risky zone.
Remeber since last 3 days we are telling here 5805 is the major resistance for the market. If nifty close above 5805 for two days then only nifty buy position advisable.
Yesterday we told sell Nifty, if brake 5699 our third target was 5656 and nifty made low of 5655. On upper side we told buy nifty above 5752 and our first target 5768 is achieved. This is not magic, posits a power of charts and Technical Analysis.
Sell Nifty only below 5648 for the target of 5630-5615-5599 keep sl of 5660 on closing basis.
Buy nifty only above 5710 for the target of 5729-5750-5771 Keep sl of 5692 on closing basis.
(High Risk Taker only buy nifty with strict sl)
Since last Friday we told that if nifty breaks 5900 series and close below this level, then dont hold any long positions.
