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Is Nifty Future trend Closer to the Stat up Move?




Last Close:5705

[sws_blockquote_endquote align=”” cite=”” quotestyle=”style02″] Investing Quote… “The Tape Reader’s profits should develop naturally. He should buy or sell because it is the thing to do – not because he wants to make a profit or fears to make a loss.” ~ Richard D. Wyckoff [/sws_blockquote_endquote]


 Nifty closed down 49.95 points at 5677.90 while Nifty futures closed at 5705.55, premium of 27.65 points. FIIs bought in Cash, net buy 283.79 Crore while DIIs sold in Cash, net sell 340.60 Crore. FIIs bought in Index Option, Stock future but sold in Index future, net buy 771.35 Crore..!!!


I think it’s now time to start to looking for a possible top, a top that might surprise many bulls.


Ideally a small deep is seen on Monday then a  rally and if close in green in next 1-2 days will take rally up to 5860-5900.

The negatives is:


Closing below 5700 will problematic for Nifty Future.


What For Today

Nifty is trading  now at its crucial support . Technically in chart , Today Nifty Future  feel strong support at 5719-5694  .

and if sustain above 5760 then rally will up to 5782  and above  5782  it is  possibility for the up move up to 5830 .


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Mr.Guru is a registered investment advisor for Moneymunch, he is a regular guest on popular channels and writes for several newspapers and financial journals. They've black magic of stock market analysis because studied charts over 20 years.

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