manavtechresearch

NIFTY INDEX PRICE ACTION EXPECTED FOR THE DAY

Long
NSE:NIFTY1!   S&P CNX NIFTY INDEX FUTURES


INDEX SUMMARY
-SGX NIFTY IS SHOWING A FLAT TO POSITIVE START
-AS WE DISCUSSED YESTERDAY HEAD-AND SHOULDER PATTERN BECOMES INVALID ONCES INDEX CROSSES ABOVE 13100
-AND EVENTUALLY BROKE ABOVE 13100 TO START A FRESH LEG OF RALLY
-NOW WHAT WE DID NOT DISCUSS YESTERDAY IS THAT ON DAILY CHART INDEX IS TRADING INSIDE THE BAR OF 25/11
-THE BIG RED BAR WAS BROKEN ON THE UPSIDE YESTERDAY WHERE WE CLOSED ABOVE THE OPENING OF 25/11
-MARKET MADE A MEAL OF THE MARGIN RULES
-CRUCIAL SUPPORT FOR INDEX COMES IN @13057(RESISTANCE TURNED SUPPORT)
-CRUCIAL RESISTANCE SHOULD KICK IN @13300-400
-IF MARKET STARTS TO SUSTAIN ABOVE 13140 WE WILL SEE MOVES ON THE UPSIDE


RESISTANCE FOR THE DAY ( FUT )
13225-13280-13340
SUPPORT FOR THE DAY ( FUT )
13080-13050-12990

SCREENSHOT

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