Market Mantra: Nifty, Bank Nifty Future (07_04_18)

Market Mantra: 07/04/2018

Updated: 08:35

SGX-NF: 10310 (-32; -0.30%)

Expected BNF opening: 24785 (-0.30%)

(Flat opening on dovish hold by RBI and subdued global cues amid plunge in US stock market on Friday after reports that there is currently no back or front door negotiation between US-China and China is also not interested in talks with the US under the current circumstances of constant Trump tariff threat; But morning Asian cues are stable in hopes of US-China truce).

March-Fut (Key Technical Levels)

Support for NF:

10290/10270-10220/10190-10150/10100-10030/9950

Resistance to NF:

10375/10395-10425/10465-10500/10545-10600/10650

Support for BNF:

24700/24600-24450/24300-24200/24100-23950/23850

Resistance to BNF:

24900/25000-25100/25300-25500/25850-26075/26255

Technical View (Positional):

Technically, Nifty Fut-March (NF) has to sustain over 10435 for a further rally towards 10465-10500/10545-10600/10650 in the short term (under bullish case scenario). 

On the flip side, sustaining below 10405 NF may fall towards 10290/10270-10230/10190-10150/10100 in the short term (under bear case scenario).

Technically, Bank Nifty-Fut (BNF) has to sustain over 25100 for a further rally towards 25300-25500/25850-26075/26255 in the near term (under bullish case scenario).

On the flip side, sustaining below 25050-24950, BNF may fall towards 24700/24600-24450/24300-24200/24100 in the near term (under bear case scenario).

SGX-NF

BNF