Bulls All The Way

Nifty entered into bull mode

Today Nifty has struggled very much to go up. It has found so many support levels and withstood some strong selling by the people who have delivery of futures.

I have observed that open interest of almost 1.5% in morning but ended the day with only 0.04%.

Nifty has very well withstood these selling and made new highs every time there is strong selling. I see strong support at 7482, 7470 for the nifty futures.

Nifty has managed to sustain 7500 levels and entered into BL1 mode. And I see no announcements from government side to be made till FEB 29 budget day.It should give Nifty some breathing space to recover rom all the stress it is under in past 2 months.

For the people who want to enter long in FEB Nifty futures take a position tomorrow based on open( if nifty sustains 7529) take a buy position and if nifty manages to close above 7529 with a stop loss of 7467.

For intraday of tomorrow i see resistance at 7530, 7542, 7570, 7585 levels. on the down side i see strong support at 7482 and 7470. 

so, all other indicators show support to bull run and from figure one can find support lines at 7518, 7504, 7472.

I think this time nifty can sustain the gains and no selling happens.