October 28, 2010

Nifty Futures with support and resistance lines

  • Nifty futures hour chart with possible lines that could resist and support the progress of the index.
  • Two lines of resistances are drawn NF is finding it tough to cross the first one. If it spends more time without breaking above it NF may come down to 6030 levels or even to the bottom support line. 
  • Break of the first resistance may trigger a rally towards the major resistance line drawn here.
  • Break of support line will be negative and if 6000 breaks we may see an extended correction.

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