Technical View:
Nifty future fell around 1.5 percent on Monday as foreign investors continued to sell as part of a
slump in emerging markets. As metals sector decline after china’s factory growth eased to an
expected six- month low in January. Nifty futures closed at 6039 with a low of 6034. Nifty for next
trading session would have the resistance of 6105 if it breaks this level than having the next
resistance of 6135 and in down side having the support of 6025 if it breaks this level than having
the next support of 5980.
Nifty future fell around 1.5 percent on Monday as foreign investors continued to sell as part of a
slump in emerging markets. As metals sector decline after china’s factory growth eased to an
expected six- month low in January. Nifty futures closed at 6039 with a low of 6034. Nifty for next
trading session would have the resistance of 6105 if it breaks this level than having the next
resistance of 6135 and in down side having the support of 6025 if it breaks this level than having
the next support of 5980.
Pivot level:
|
S3 |
S2 |
S1 |
PIVOT |
R1 |
R2 |
R3 |
|
5921
|
5990
|
6014 |
6058 |
6083
|
6127 |
6196
|
Trading Strategy:
SELL ON HIGH.
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