Market outlook for Nifty and Crude oil on 7th February

Trading the nifty on 7^th February

 

The Nifty has seen lower levels below the 6000 mark to close at 5959. It is still in the Bearish zone. Any opening below 5948 could take it to the 5931 and 5912 levels. It could see upper levels of 5982 and 6003 levels if opened above 5967

STATUS                   NEUTRAL

RESISTANCE          5986, 6006

SUPPORT                5929, 5909

Crude oil trading levels for 7^th   February

 

The charts of crude oil suggest a reversal. However we need to have a confirmation on this today. If the crude opens above 5148, it would signal an uptrend and targets of 5163 and 5181 could be expected. If the crude goes below 5130, targets of 5114 and 5096 can be tested

STATUS                   STRONG

RESISTANCE          5166, 5184

SUPPORT                5112, 5094