Yesterday NF above 4907 went exactly to our level 4932,
then it saw sudden selling pressure made low 4882 but close
above our support level (4892) i.e 4893.90.
On Monday, market has endorsed the bullishness seen on last Friday and Nifty remained up for the whole day only to fall back and close almost flat. Monday's fall was on the low volume; low volume means no selling pressure, it shows high possibility of Nifty going up further in days to come.
Monday's move in the market is common practice by smart money. After sharp recover from the lows, smart money stay off the market for 1-2 days to check the selling pressure by the other players.
NF today support @ 4907
Below crucial support 4892
If break 4892 then 4855-4830
NF Intra hurdle@ 4950
NF if trade and break 4932
then it will go on for 4950-4970-4996.
NF yesterday failed to close above 4907 , so if failed to close abv 4907
today then NF will touch 4671 till expiry.
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