Wednesday, May 12, 2010

NIFTY TRADING SYSTEM

NIFTY FUTURES CONSOLIDATING BETWEEN 5100 – 5200 ……..

Nifty futures opened on a flattish note @ 5131 and tried to move higher pass the 5180 area ,but could not do so in the process making 5167 as an intraday high. Nifty futures could not hold to the higher levels and sold off to make an intraday low of 5088 and finally closing the session @ 5149.

NIFTY Future after making a tremendous comeback yesterday , consolidated in the range of 5080 - 5180 trying both the ends to break on either sides. The important level to watch for is 5185 - 5210 on the upside and 5080 area on the down side. Only a close above the 5300 zone with good volumes will give markets the much needed momentum to move higher .On the downside the 4950 zone will be very critical for Nifty Futures.

Our view on Nifty Futures has turned Neutral . It is attempting to break the narrow consolidation zone of 5080 – 5180 to make a decent move on the either side. Watch out for 5210 on the upside and 5080 on the downside.

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