Another narrow day of consolidation.
Nifty futures opened with a gap up of approx 30 points @ 4851, It tried to break the immediate lower support @ 4790, but manage to hold that and then tried higher side, but closed @ 4851.It was a no event day with an intraday movement of only 55-60 points.
Our view on nifty futures is Cautious.But it has given an important weekly close above 4760.Next week will be very crucial for nifty, It has to break above 4900 and head to higher levels or a break below 4570 will be devastating and end the uptrend.
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