Morning Mantra ----- Nifty Future

It is said that longer the analyzing period, longer the moving average to be taken. For instance, for a long term period, a moving average of 100 may suit though there is no well proved strategy for picking the averages. The reason is that the longer moving average is not affected by the short term movements, giving more clarity towards the long term.

   Good Morning and Happy Trading.

        Yesterday before opening written vital support (i) is 5217, at 11:00 Nifty Future made low 5217 and toke reverse upto 5261.

Written second support 5206, NF break 5206 at 15:08 and made low 5198.   

Today 5222 will act a vital role………………

If Nifty Future able to sustain above 5222 with volume at least 45 minutes then will face next hurdle at 5246/49.

Above mentioned hurdle if stay then next resistance will be 5270.

NF may chase 5436 / 39 –5476/79 – 5580 --- 5630 levels very 

If Nifty Future touch 5222 and fail to sustain above this level then the immediate support will be 5190.

If NF break this level with volume then next vital support levels will be 5181/5178/75 to 5169/66.

More reversal points for our subscribers only.

06:42 AM 07.17.2012