Tuesday, Sept 24th 2013, Nifty future opened on a negative note and took support at 5875 (day's low) and rebounded to rise upto 5962 level. Nifty future hit the resistance zone (5950-5965) and subsequently drifted down to settle at 5917.
For Wednesday, Sept 25th 2013, the trend deciding point emerges around 5870-5875 zone(which is also close to today's low), hence this zone will act as good support level and if the trend deciding zone is breached Nifty future likely to face further selling pressure which may take Nifty down to 5840 and 5820 levels. Based on trend deciding zone two nifty strategies can be taken, first to buy nifty future around 5900 with stop placed at 5870 and second, to sell nifty future below 5870 with stop above 5900. In both cases stop is of 30 points and profit around 40- 50 points. If Nifty future bounces from 5900 it’s likely to move upto 5960 level, where again it will face resistance (5960-5970) is a key supply zone or resistance zone.
If Nifty future manages to surpass the resistance zone, it’s likely to move upto 6025 and then to 6052 level.
Index Range (September Future)
Nifty: 5917
Range: 5815-6055
Resistance: 6049-6006-5962
Support: 5875-5831-5787
For Wednesday, Sept 25th 2013, the trend deciding point emerges around 5870-5875 zone(which is also close to today's low), hence this zone will act as good support level and if the trend deciding zone is breached Nifty future likely to face further selling pressure which may take Nifty down to 5840 and 5820 levels. Based on trend deciding zone two nifty strategies can be taken, first to buy nifty future around 5900 with stop placed at 5870 and second, to sell nifty future below 5870 with stop above 5900. In both cases stop is of 30 points and profit around 40- 50 points. If Nifty future bounces from 5900 it’s likely to move upto 5960 level, where again it will face resistance (5960-5970) is a key supply zone or resistance zone.
If Nifty future manages to surpass the resistance zone, it’s likely to move upto 6025 and then to 6052 level.
Index Range (September Future)
Nifty: 5917
Range: 5815-6055
Resistance: 6049-6006-5962
Support: 5875-5831-5787
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ReplyDeleteThanks for sharing updates and Information Monday, 21 OCT Stock Markt Updates and Tips
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