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Nifty Futures Trading Target Level For 4 April 2011, Sell Below 5888

By Bhaveek Patel Leave a Comment

Nifty futures is facing strong resistance at 5888 and is trading below this level today. The major selling came from the FII, retail investors. We will advice traders to trade short for today as selling pressure can be seen near 5888 level in nifty futures targeting 5840 area today. Markets are in bearish mood and is likely to witness fresh selling in today’s session. The markets are unlikely to continue last weeks buying interest, hence pushing markets southward. I will be looking for selling opportunities today as long as nifty futures is trading below 5888 level on intraday basis. Keeping bearish outlook for today, sell nifty futures below 5888 for intraday target of 5840 and 5806 level placing stop loss at 5905.

At 10:55 AM (IST) Nifty is trading positive by 15 points. Today’s trend will be bearish, However profit booking is likely to bring markets down, also some fresh short buildup may be seen near 5888 level. Nifty Future trading range can be seen, as in the support resistance levels below.

Nifty Futures Level:
Resistance: 5896 / 5942
Support: 5839 / 5801

Nifty futures trading tips (4 April 2011): Sell Nifty Future below 5888 level for intraday target of 5840 and 5806 levels, also place Stop loss above 5905 level.

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  2. Nifty Futures Support Resistance Level For 26 April 2011, Sell below 5807, Target 5753 Nifty futures has faced strong resistance at 5900 level and is trading below this crucial level today. The major selling came from the FII and retail investors. We will advice traders to trade short for...
  3. Nifty Futures Trading Target Level For 11 April 2011, Buy Above 5802 Even though Nifty future is trading lower today, but it is still trading above its strong support level of 5802, we will however be bullish as long as nifty is trading above 5802 level (on...
  4. Nifty Futures Trading Target Level For 18 April 2011, Buy above 5890 Nifty future is trading strong today, and is still trading above its strong resistance level of 5888, we will however be bullish as long as nifty is trading above 5890 level (on closing basis). Risks...
  5. Nifty Futures Trading Target Level For 13 April 2011, Sell Below 5884 Nifty future is trading lower by 77 points today, but it is still trading above its strong support level of 5802, we will however be bullish as long as nifty is trading above 5802 level...

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.

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