NiftyFuture last close : 12099.85
On last Monday (25th Nov) NiftyFuture has given a breakout above its previous swing high and closed at 12096 gained 160 points & On Friday (29th Nov) NF closed at 12099.85. Just 3 points gained in Monday’s close to Friday’s close. But weekly gained 185 pts.
On Friday NiftyFuture saw a panic selling ahead of GDP data, After market hrs came GDP data at 4.5% worst in last 6 years, But not so bad….
IMF, World Bank has projected India’s GDP growth will come above 6% in middle of 2020 and 7% in FY 2020-2021.
On monthly chart NiftyFuture has given highest ever monthly close and short term out look is very bullish.
However on the daily chart shows some little bit profit booking and quick correction will be triggered.
Let’s see technical view……… NiftyFuture facing a weekly resistance 12175, 12240 and 12350……..
Above resistance are maximum for this week………!! Time to profit booking!!
NF considering a weekly supports 12015, 11920 and 11825.
NF very strong support at 11825 (Nifty spot 11800). If closes below the level trend will be changed to Bearish
Did you know ??………
On 08th July 2019 NF broken my strong support 11625 then made a low was 10640…….. Almost 1000 points down from my breakdown
Again 20th Sept 2019….. NF was broken my strong resistance 11180……Now NF has made high of 12160………Almost 1000 points up from my breakout.
Now my breakdown level at 11825
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Updated : 11.36 AM / 01st Dec 2019