Nifty futures opened today on a weak note @ 5053 and tumbled all the way down to 4972. It found some support near the 4970 level , but the major level to watch is 4900 as suggested from the option data , with a very heavy position build up at 4900 level. Nifty futures is still in an undecided range of 4900 to 5150.
Our view on nifty futures is cautious to bullish unless a break below 4900 may change the scenario.
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