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 5228, Nifty Future made high 5237. And close at 5223.

                          

(ii) Written vital support is 5177, Nifty Future made low 5177. And take a sharp bounce back.

Day’s 1^st hurdle is 5236 to 5243.

If Nifty Future able to sustain above this level then next hurdle will be 5258/61—5281 to 5287.

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

Today’s 1^st support is 5216.

The next and vital support level is 5206---5203---5200.

If Nifty Future start to trade below 5196 level with volume then

PANIC will kill the Bullish move……………

“End of next week we can see an unexpected level in Nifty Future”

More reversal points for our subscribers only.

06:45 AM 07.19.2012