I am presenting here my tentative Nifty Future forecast for 21st Feb. 2012. I have taken for this discussion, 2 charts – 3750 secs. and 1869 secs.
As the charts show, even if there will be a higher gap opening, with 5616 and 5664 as probable targets, sustenance will be a big question mark because of the strength with which Nifty Future has been trading in the last phase. What I mean by strength is the responses of the RSI and MACD were so feeble when compared with the price rise. I have highlighted the same in the chart for your understanding.
NIFTY FUTURE
Supports: 5571, 5550, 5525
Resistances: 5616, 5664, 5707
Healthy And Wealthy Trading
