Nifty future strategy for 9th Feb, 2016

Today Nifty opened gap down by around 30pts to 7485, and took support of yesterday’s 2^nd half low that is 7470, and bounce back to yesterdays High that is 7529 and mange to cross with good volume, despite of closing most of the Asian market today, nifty gained sustained till 2^nd half.

After 2PM heavy selloff came from FII or/& DII, Nifty future crossed yesterday’s low of 7225 in panic with unexpected volume, and end up below 7400 due to global selloff.

For tomorrow (9^th Feb, 2016) trend remains Negative, If Nifty future opens below 7375 and sustains that level till noon, and we may see more selloff during day or at the end. Or If Nifty opens above 7400 level and sustains again we may see 7500 level in Intraday with short covering, for Positional or swing traders buy Nifty fut only above 7535 or else remains short with Stop loss of 7535.

Now Major support at 7335 – 7250 & Resistance 7537 – 7605

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