Nifty Futures stuck in a range of 4580 - 4755.
Nifty opened @ 4600 tried support at 4580, but could not break below that level, so mere out of frustration it had to try the upper levels. So Nifty tried to cross 4755 , but just manage to make a high of 4712 and close around that level of 4695.
As mentioned earlier Nifty is going no where unless it crosses 4755 or break below 4570 - 4580 area.
It is narrowing its trading range every day. It has a triangle support @ 4550 now, so for the next week a break below 4550 will trigger a strong move towards 4350 level.And on the Upside, A break of 4755 will lead to higher prices.
Our view on Nifty future is neutal to Bullish. Since it closed near 4700 the view is slightly bullish, but it has to comfortably break above 4755 level to attempt higher prices.Traders can trade the nifty on either side of the range by keeping tight stoplosses.
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