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| NF Daily Chart |
Technicals of week is presently favouring this upmove. A keen tussle would emerge to retain 5000.
Support has risen to today's low-4905 with a gap & intraday supports @ 4935-45. 4986 is the immediate resistance above that NS may test 5011, but that level is almost 480 points up move from 4531. NS has to correct from there and it may go down to 4800 in this month or rather this down move will take 9-16 days. Due to expiry, option writers won't allow to come down more. May be after expiry the fall will start. This rise is not at all convincing. Strong Euro has pulled the European market as Spanish short term bond yields has come down and Spain could able to raise desired money. Overall situation is not favourable for sovereign bond holders. European debt has made S&P to downgrade the ratings. Obviously banks and other corporate institutions will not be ready to waive off the heavy debt made by countries.
For S&P(chart taken on 12-48 am IST) also 9-RSI is overbought state.
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| S&P Daily Chart at 12-50 am IST |
TT Data has been updated.
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