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Nifty Futures Support Resistance Level For 27 April 2011, Sell below 5888, Target 5808

By Bhaveek Patel Leave a Comment

Nifty future is trading weak today, ie trading down about 22 points. At current level nifty is still trading below its strong resistance level of 5888, we will however remain bearish as long as nifty is trading below 5888 level (on closing basis). Technical indicators are showing mixed momentum from current levels. We will advice traders to remain short in nifty in today’s market, unless nifty futures trades above 5888 level. For intraday trading we recommend to take short position only below 5888 level for target of 5832 and 5807 levels and place stop loss at 5906 level. Traders stay cautious as near term volatility may increase significantly due to F&O expiry this week. Further direction of markets will be determined by the Q4 result from India’s giant corporates.

At 12:35 AM (IST) Nifty is trading negative by 22 points. Today’s trend will be bearish, However fresh selling is likely to pull markets southward today, also some profit booking is likely near 5855 level. Nifty Future trading range can be seen, as in the support resistance levels below.

Nifty Futures Level:
Resistance: 5855 / 5888
Support: 5807 / 5778

Nifty futures trading tips (27 April 2011): Sell Nifty Future below 5888 level for intraday target of 5833 and 5807 levels, also place Stop loss above 5906 level.

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Category: Nifty Tags: nifty/ Nifty Analysis/ Nifty Levels

About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

Comments

  1. Futures trading says

    Hi Dude
    Your Website information is very informative for me especially nifty future level.Thank You

    Reply
    • Bhaveek Patel says

      Thanks for visiting this blog you will always find the best trading advice here. Also you can visit different sections like, forex, gold, multibagger, intraday stock trading, midcap stocks, short term stocks, and much more.

      Keep visiting.

      Reply

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