Nifty Futures opened higher today by 15 points @ 5307 , which was the low point of the day .It quickly started climbing toward the 5350 mark and passed it with heavy momentum making an intraday high of 5389 in the process and closing the session @5366.
Nifty futures is facing heavy selling pressure at the 5400 mark . Only a break above the 5400 level with good volumes and momentum will attract fresh bout of new buying, taking Nifty Futures all the way towards the important 5500 level . The minor support now comes in at 5280 level and thereafter at 5250 mark.
Ou view on Nifty Futures is Neutral to Bullish. Only a close below the 5250 mark will negate the short term uptrend and take nifty towards the 5000 mark. on the upside the major resistance comes in at 5500 level.
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