NIFTY FUTURES Opened today with an upward biased and traded the whole day in a very narrow range.The Intraday high was 5242 and the low was 5193. Nifty closed the day @ 5226.
Nifty futures once again seem to get some buying support near 5180 area. This zone of 5180 is turning out to be very important for the Nifty,as a break below this will take Nifty towards 5000 zone.On the upside, 5300 level has to be taken out with very good Volumes for Nifty Futures to achieve the medium term targets of 5450 – 5500.
Our View on Nifty Futures is Neutral to Bullish. Most of the Nifty 50 Scrips are Range Bound awaiting a trigger on either side. So it is advised to be cautious.A close below 5150 – 5180 zone will end the short term upside.
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