FINALLY Nifty Futures is broken out of the Trading Range.
Nifty Opened today with a strong foot @ 4992 and rallied the whole day before closing at the high point of the day.Nifty made a high of 5080 and closed @ 5072.
Nifty managed to cross above minor resistance @ 5025 and closed above it. Now the only near term resistance stands @ 5250 Area. So, expect another 200 points rally from here on.But, on the down side 4980 - 5000 is a minor support for now.Only a decisive break below 4900 will end an upward momentum.
Our view on Nifty Futures is bullish. The near term target for nifty is 5150, and then @ 5250.Any minor dip on nifty can be bought for the above mentioned targets. On the downside, there is a strong support area around 4900 - 4920. Only a close below the mentioned level will give way towarda 4780.
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