Technical View:
Nifty future snaps its four consecutive sessions of gains on Thursday. After overnight losses in the
US dragged the indices to open with negative bias while sentiment in the Asian markets took a hit
after china manufacturing index fell more than expected hitting seven-month low. Nifty futures
closed at 6107 with a low of 6102 Nifty for next trading session would have the resistance of 6140
if it breaks this level than having the next resistance of 6170 and in down side having the support of
6100 if it breaks this level than having the next support of 6045.
Nifty future snaps its four consecutive sessions of gains on Thursday. After overnight losses in the
US dragged the indices to open with negative bias while sentiment in the Asian markets took a hit
after china manufacturing index fell more than expected hitting seven-month low. Nifty futures
closed at 6107 with a low of 6102 Nifty for next trading session would have the resistance of 6140
if it breaks this level than having the next resistance of 6170 and in down side having the support of
6100 if it breaks this level than having the next support of 6045.
Pivot level:
S3 |
S2 |
S1 |
PIVOT |
R1 |
R2 |
R3 |
6043
|
6080
|
6094 |
6116 |
6130
|
6153 |
6189
|
Trading Strategy:
BUY ON DIPS.