Monday, November 1, 2010

Nifty Future -- 01-Nov-10 -- before Opening.

Nifty future Closed at OB zone Intraday on last Friday.
Now at up side there is lot of resistance zone -- 6068/70 to 6091.
Nifty future can bounce back from 6070 or from above.
If and only if nifty future can cross and sustain above 6091 ( 13 DMA ) with volume, then can only expect that nifty future can go up to 6125 to 6150 level.

But if Nifty future bounce back from up side resistance zone, 6068/70 to 6091, then watch 6030 (200 Hourly EMA) .
Break of this 6030 level can face a little support at 6015 (7 EMA- Hourly), and break of this can go down side .
At down side, Nifty future will try to bounce back from 5950-5945 level.
If break these level, a little support at 5930 ( 10 EMA- Weekly).
Below this level one support zone is at 5885 (55 Day-EMA).
Below this level i am looking for 5874 (3 EMA-Monthly).

As of now, This figure is in my mind.
And one more thing, always have to watch open interest.


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