Nifty futures opened today on a subdued note @ 5108. It made an attempt to break pass resistance ,but quickly gave up all the gains.It made an intraday high of 5122 and sold off to make a low of 5058. The closing was almost near the Low @ 5068.
Nifty Futures as mentioned earlier is lacking momentum to break pass resistance area of 5180 - 5200.It found some support near 5050 level , but if broken will quickly trigger another bout of Profit taking towards 4900 Area.
Our stand on Nifty futures is Positive. Only a break below 4900 level on a closing basis will end the Uptrend for now. On the upside, Nifty has to close above 5135 - 5150 Area to make new highs again.
Nifty is lacking momentum on this upmove.It is looking tiring uptrend,So be watchful for any important levels to breach.
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