NIFTY FUTURES CLOSES ABOVE 5200 MARK...................
NIFTY Futures has managed to open with a gap of 25 points @ 5138. This was the low point of the day for Nifty Futures. It re-tested the support in the intraday and found very good buying near the lows.Nifty Futures broke above 5150 levels and closed at almost high point of the day at 5205.
Today, Nifty futures has shown some tremendous resilience and has managed to close above the 5200 mark.Now, only a close above 5230 level is required to regain positive momentum and take it higher towards 5350 area.On the downside, near term immediate support comes in at 5080 zone.
Our view on Nifty Futures is Neutral. Nifty Futures has to capitalise on the gains made today and give a positive close tommorrow above an important level of 5230 mark.Or else this rally could be used as a shorting opportunity with appropiate stoplosses. Now, only a close below,5000 level will bring in fresh selling momentum.
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