Nifty Futures is nearing the monthly expiry and currently, the overall trend remains down with a focus towards the 18950 – 19000 zone. Last Friday value area clearly formed lower with balanced price action.
Friday’s price action with a gap down also cleared the non-excess (poor low) from 18th August (incomplete auction).
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In the near term spike base 19430 levels act like a resistance zone. Trading sentiment could turn positive only a sustainable close above spike base 19430 levels. As long as there is no acceptance markets remain in sell on rise mode.
