NIFTY FUTURES Opened today very flat on the back of global cues @ 5244. It spent the whole day in a very narrow range of only 42 points. It made an intrady low of 5221 and the intraday high was at 5264. It closed the day @ 5256.
The couple of closing above 5200 level is very positive for Nifty Futures. Expect another bout of buying ,once Nifty takes out 5300 area. The minor support now seems to move higher at 5215 - 5200 zone. And on the upside there is stiff resistance at the 5300 area.
Our view on Nifty futures is Buliish. Any Dip should be used as any buying opportunity with the immediate target of 5300 zone. Only a close below the 5150 level will end the short term upside in the Nifty Futures.
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