FOR INTRADAY TRADING ON MONDAY, THE LOWER CHANNEL SHOULD PROVIDE SUPPORT TO NIFTY AND THE +VE DIVERGENCE IN MACD HISTOGRAM INDICATES THAT THE UPWARD REVERSAL IS NOT VERY FAR OFF FROM THE PRESENT LEVELS. EVEN THOUGH THE HIGH PREMIUM ENJOYED BY NIFTY FUTURES AT 5722 COMPARED TO THE SPOT LEVEL OF 5686 LOOKS ALARMING, YET THIS CONTINUES TO GENERATE CONFIDENCE IN THE MINDS OF THE BULLS WHO ARE HOPING FOR AT LEAST THE RETEST OF OCTOBER MONTH HIGHS OF 5873 FUTURE LEVELS OR 5815 SPOT NIFTY LEVELS, WITHOUT KNOWING THE POWER OF THE VENOM INJECTED BY THE DOW OPERATORS INTO INDIAN MARKETS.
ON MONDAY NIFTY FUTURES WHICH HAD CLOSED AT 5725 LEVELS ON FRIDAY, MAY OPEN FLAT OR MILDLY UP TO INCH UP A LITTLE MORE TOWARDS THE CRITICAL LEVEL OF 5742 TO 5744 WHICH WAS THE LOW OF THURSDAY 8TH NOV. SUSTAINING ABOVE 5744 WILL TRIGGER INITIAL BOUT OF SHORT COVERING TO PROPEL NIFTY FUTURES TOWARDS THE NEXT CRITICAL LEVEL OF 5751 TO 5757 ZONE, ABOVE WHICH ONE MAY EXPECT MASSIVE SHORT COVERING TO PROPEL NIFTY FUTURES TOWARDS NEXT HIGHER LEVELS OF 5767 TO EYE FOR FRIDAYS HIGHS OF 5782.
SIMILARLY ON THE LOWER SIDE FRIDAYS LOWS OF NIFTY FUTURES AROUND 5707 TO 5702 CONTINUES TO BE A STRONG SUPPORT ZONE, A DECISIVE BREACH OF WHICH MAY SEE NIFTY FUTURE SLIDING TOWARDS 5696 TO 5692 ZONE, SUSTAINING BELOW WHICH WILL ATTRACT EVEN THE HARD CORE BULLS TO SHORT THE MARKETS FOR VERY QUICK GAINS TOWARDS THE DOWN SIDE LEVELS OF 5682 TO 5670 FUTURE ZONE THAT MAY ATTRACT THE CASTRATED BULLS TO RETURN TO BUYING BUT ONLY TO SEE NIFTY FUTURE MOVING UP BY 10 TO 20 POINTS AT THE MOST TO ADD SALT TO THE WOUNDS OF THE BATTERED BULLS.
ON MONDAY NIFTY FUTURES WHICH HAD CLOSED AT 5725 LEVELS ON FRIDAY, MAY OPEN FLAT OR MILDLY UP TO INCH UP A LITTLE MORE TOWARDS THE CRITICAL LEVEL OF 5742 TO 5744 WHICH WAS THE LOW OF THURSDAY 8TH NOV. SUSTAINING ABOVE 5744 WILL TRIGGER INITIAL BOUT OF SHORT COVERING TO PROPEL NIFTY FUTURES TOWARDS THE NEXT CRITICAL LEVEL OF 5751 TO 5757 ZONE, ABOVE WHICH ONE MAY EXPECT MASSIVE SHORT COVERING TO PROPEL NIFTY FUTURES TOWARDS NEXT HIGHER LEVELS OF 5767 TO EYE FOR FRIDAYS HIGHS OF 5782.
SIMILARLY ON THE LOWER SIDE FRIDAYS LOWS OF NIFTY FUTURES AROUND 5707 TO 5702 CONTINUES TO BE A STRONG SUPPORT ZONE, A DECISIVE BREACH OF WHICH MAY SEE NIFTY FUTURE SLIDING TOWARDS 5696 TO 5692 ZONE, SUSTAINING BELOW WHICH WILL ATTRACT EVEN THE HARD CORE BULLS TO SHORT THE MARKETS FOR VERY QUICK GAINS TOWARDS THE DOWN SIDE LEVELS OF 5682 TO 5670 FUTURE ZONE THAT MAY ATTRACT THE CASTRATED BULLS TO RETURN TO BUYING BUT ONLY TO SEE NIFTY FUTURE MOVING UP BY 10 TO 20 POINTS AT THE MOST TO ADD SALT TO THE WOUNDS OF THE BATTERED BULLS.
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