DEAR VIEWERS ,
MAY THE NEW YEAR 2010, BRING IN HAPPINESS, SUCCESS, AND PROSPERITY FOR YOU ALL.
NIFTY Futures Opened today with a gap up of 25 points @ 5193. It quickly gained ground above 5200, making a new high for 2009 @ 5229. But towards the end expiry volatility kicked in, and nifty made a new intraday low @ 5191. It managed to close above 5200 mark @ 5220 (Jan).
Nifty futures made a new 52 week high on the last trading day for 2009 @ 5229. Making new high almost every day is positive news for market. And also the Dec Series Expired without much intraday volatility. Once the market resumes after holiday, expect nifty futures to rally much further towards 5300 area. And if the momentum continues, expect nifty to touch 5450 - 5500 level.
Our view on nifty futures is Bullish. On the upside, expect nifty to continue the positive momentum. The minor resistance for nifty stands at 5275, and the major resistance level now stands @ 5450 zone. On the downside , there is minor support for nifty futures at 5135 zone, and the major support now stands @ 4930 zone.
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