Hi Folks!
Nifty Futures has awesome support at 5300 as seen on Daily and Weekly chart. If NF breaks down 5300 then doom and gloom is seen till 5100. However, if NF is resilient enough to withstand 5300 then we can see it move up by another 100 points. Every 100 points we have either support or resistance for NF. Beyond 5700 on the upside and 5100 on the downside, there is room for free-rise/fall.
That said, I would wait out today to see which way it sways before making trade decisions tomorrow. So, for today, I'm a spectator.
Tread carefully...
Cheers!
DayTraderBT
Nifty Futures has awesome support at 5300 as seen on Daily and Weekly chart. If NF breaks down 5300 then doom and gloom is seen till 5100. However, if NF is resilient enough to withstand 5300 then we can see it move up by another 100 points. Every 100 points we have either support or resistance for NF. Beyond 5700 on the upside and 5100 on the downside, there is room for free-rise/fall.
That said, I would wait out today to see which way it sways before making trade decisions tomorrow. So, for today, I'm a spectator.
Tread carefully...
Cheers!
DayTraderBT
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