NIFTY Futures opened today with a minor gap up of 25 points @ 5185. It made an early attempt to break above 5220, but failed. It made an intraday high of 5217.65 in the process.Towards the mid session, Nifty futures sold off to make an intraday low of 5165. It closed the day almost flat with thin volumes @ 5183.
Nifty futures seems to lack momentum to regain higher levels.There is enough selling on every attempt to rally. The important level to watch for Nifty futures is a close above 5280 - 5300 area. This will regenerate fresh excitement in Bulls taking it much higher towards 5550 zone. On the downside,there is minor support area of 5125 to be watched.Only a close below 5080, will gain fresh downside momentum for Nifty Futures.
Our view on Nifty Futures is Neutral. Nifty Futures is once again seem to be struck in a range of 5280 on the upside and 5080 on the downside. The breaking on either side will trigger fresh momentum.
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