On Friday Nifty Future closed at 9590 shedding more than 10 points in the last 15 minutes for a close below 9600. The index seems to be exhausted and it will take some more days for a rally towards 9700 but Monday will see a move towards 9626. NF must close above 9605 to be in a comfortable buy zone.
Bank Nifty future ended at 23442 and a short journey towards 23560 is likely to happen before it slips.
Both the indexes are likely to be range bound for next week as crossing 23778 may take some more days. The reason is that we have no big news or event to take the index forward.
INTRA-DAY LEVELS
Nifty Fut Support 9584-9571 Resistance 9592-9618. Trend decider 9605
BNF Support 23431-337 Resistance 23460-493-507 Trend decider 23358.
Trend Decider Intra day means one can go short or long in future if index trade above/ below this number for more than 10 minutes.
Happy Trading!
Alert: Do not get carried by any rumour that nifty or BNF will fall heavily. Both are under consolidation and it may take some days to move ahead.
Your assumsum is correct being the south move of NIFTY is now a topic of discussion!
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