Nifty futures opened flat today after a Long weekend.It managed to held on to most of the gains above 5011.It briefly manage to attempt towards 5050 but failed near the end of the session .Nifty made an intraday high of 5047.90 and closed @ 5023.
Nifty futures has managed to cross last weeks high and make a new high today which is positive.As long as it makes new high every day, its not a problem.There is a minor support @ 4940 levels and the Major stands all the way down to 4780 Area.On the upside , it has minor resistance @ 5150 level.
Our view on Nifty is bullish.It has made new high on the first trading day which is positive.We can expect nifty to continue moving towards higher levels meeting our resistnce levels very soon.Any dip in the market should be used to buy unless 4940 level is not taken out on the downside.
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