Demand and Supply Zone For Nifty- 13 Feb

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Nifty is showing strong Supply above 5400 supported by foreign market cues. As US and EU markets closed in RED if Nifty follow them then there may be possibility of much awaited correction. But be cautious while in shorts as very strong buying is seen by FII’s in cash.

Demand and Supply Zone For Nifty:-

• As shown in the chart Strong Supply is seen at 5398 to 5415 levels. If Nifty breaks this then upside is possible provided it breaks also Friday’s top.
• For Last week Strong Demand is seen in the area of 5338 to 5322 Zone. If this area is broken then downside is possible.
• Second level of Demand Zone is Near 5275 to 5287 Zone. This Zone may show strong Demand. If above level is broken.

Will update in market hours when needed.

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Update at 1.45 PM on 5 min Chart

• Demand area is Going Up yesterdays demand zone’s upper limit become today’s demand area. Supply is still intact. Both sides need to be watched.

For Further Reading,

Demand and Supply, Nifty Levels/View, Nifty Positional Update, Nifty Technical Analysis