NIFTY FUTURES TUMBLES ON LATE SELLING………….
NIFTY Futures opened today on a flat to negative tone @ 5163. It made an early attempt to break higher pass the resistance of 5220 , but could not do so and made an intraday high of 5202. Nifty Futures witnessed a last hour sell off after the weakness in European markets ,and tumbled towards the intraday low of 5158 and finally closing the session @ 5070.
Nifty futures has managed to close below the all important level of 5080 with good momentum, making it vulnerable to more losses in the coming sessions. Nifty Futures has to break pass the 5220 area and thereafter the 5280 zone with good volumes to witness any fresh bout of buying . On the down side the important level of 5080 has been broken and the next level to watch for is 4950 zone. Future
Our view on Nifty Futures is Bearish. It has closed below the important level of 5080 showing more down side bias. The next level to watch for is 4950 on the down side and 5220 on the upside.
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