MTECHTIPS NIFTY FUT intraday trading analysis 04-11-2016
MTECHTIPS Nifty closed on a bearish note at 8484 .So today on upside first intra resistance is at 8518-23 level.Next resistance are at 8546-51,8577-82,8618-23,8665-70,8760-65,8807-12,8873-78,8929-34,8952-57,9015-20,9043-48,9090-95,9135-40,9158-63 level.On downside first support is at 8451-46 level.Next support are at 8423-18,8392-87,8352-47,8305-00,8274-70,8235-30,8190-85,8145-40,8128-24 level.Market is in bear zonebe very alert on long unless nifty close above 8550 .So today for intraday on upside intra resistance are at 8523 and 8551 level and On downside be alert below 8446 and avoid all longs below that level as selling may intensify below that level. Have a look at weekly trend.
Positional Support for NIFTY 8077 and positional Resistance for NIFTY is 8587 8638 8641 8667 8689 8705 8720 8726 .
Intraday Resistance of NIFTY are 8518.6 : 8546.5 : 8623.7 : 8643
Intraday Support of NIFTY are 8451.3 : 8423.4 : 8347.3 : 8328.3
Oscillator Analysis The oscillator is showing SELL signalShort Term Oscillator Analysis- The signal is SELL.