Morning Mantra --- Nifty Future

ADX is an oscillator which indicates the strength of the market. To some extent, it serves the purpose of volatility indicator. We would like to stress on a point that ADX does NOT tell us the direction of the market, whether bull or bear. It only indicates the strength of the market. As we said before, many traders have a wrong view on ADX. Let us clear that initially before going deep into the study.

   

Good Morning and Happy Trading.

        Yesterday (i) before opening written vital resistance is 5249, Nifty Future made high 5248.

                           

(ii) Written below 5222 the vital support is 5190, Nifty Future made low 5188.

Today’s Low will act a vital role for coming few sessions.

Day’s 1^st hurdle is 5206……………………..

If Nifty Future able to sustain above this level then next hurdle will be 5217—5228.

For time being maintains 5250 at Stop for your all sort positions…………

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

Today’s 1^st support is 5180 -- 5178/77; quite possible Nifty Future will touch it at opening bell.

The next and vital support is 5163 / 5151………………….

If Nifty Future start to trade below this level with volume then the immediate support will be 5138.

More reversal points for our subscribers only.

06:45 AM 07.18.2012