Today i m uploading a nifty spot chart to show how nifty follows a trendline.
Nifty got support at the lower trendline, and will open gap up.
now i have drawn a black line, if nifty has to fall again in the near term, this line wont be crossed, nifty should go up to around 4305 spot or 4312 futures, and these levels should not be broken.
and breaking today's low of 4208 fut, there will be big downside in the markets.
Now for intraday, nifty might open around 4265 and we have to wait and see if it sustains there, break of 4255 will be bad for nifty fut, and may show some weakness.
on the upside, sustaining 4365, nifty may go on to hit 4312 fut
NIFTY INTRADAY LEVELS FOR 29TH AUG
