4851 Nifty spot was the point where buyers came in force last week.
4824 Nifty Future is our Mp pivot which we have been speaking about for the past few days.
Hence 4824-4851 represents a good buy zone and should be watched for signs of buying.
On the other side lies 4882 Nifty spot and 4889 Nifty Future.
Look for the market to trade between these points.4824-4889 Nifty Future.
watching this reaction off 4831, reasonably close to our 4824. can it get above 4855? Bank Nifty to stay above 8910.
resisted twice at 4855 so far.
It’s been 2 hours since the last attempt at 4855.
Inability to take out this level will put the pivot at 4824 in danger, which can point to lower prices ahead.
NF is playing a game of touch with 4855.Touching & retreating, touching & retreating..5 attempts now from 11.00 am.
Risk-reward does not favor a new short entry here.
If you are willing to take risk, stop is 4855.