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imsreecharan

[07 MAY 2021] NIFTY(MAY 2021 FUT) TRADE ANALYSIS/PREDICTION

S&P CNX NIFTY INDEX FUTURES (NSE:NIFTY1!)  
imsreecharan  
NSE:NIFTY1!   S&P CNX NIFTY INDEX FUTURES
Support and Resistance Fibonacci Trend Lines NIFTY BANKNIFTY
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supportandresistance fibonacci trendline nifty banknifty
I am going by three Views for tomorrow(07-May-2021)

  • View 1: If Nifty opens in the range 14740 - 14820, then it may be a sideways market.
    Most probably it's not a bull intraday market as there is a huge resistance zone(14820 - 14860).

  • View 2: If Nifty opens above 14860, we can anticipate a bull intraday market with resistance at 14934.
    At an initial session, We may expect a slight retracement till 14830, but takes support at this level and may move up.


  • View 3: If Nifty opens below 14725, we can anticipate a bear intraday market with support at 14670 and may further slide below up to 14590.

But Chances are that Nifty may open +ve tomorrow(07-May-2021), this is because of the volume the last candle has made.

NIFTY

Note: All these views are personal.
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