NIFTY FUTURES SURGED IN LATE SESSION.
Nifty Futures opened today on a flat note near yesterday's close @ 5008. It spent most of the day in an narrow trading range of 30 point , but towards the end it rallied quiet smartly making an intrady high of 5093.It closed the day @ 5090.50.
Nifty futures is still witnessing heavy volatility and is stuck in a range of 200 points.On the downside, it has managed to gather good support @ 4920 zone and On the upside, immediate resistance stands at 5125 mark.Only a decisive close above 5220 with heavy Volumes will change the short term trend to Bullish.
Our View on Nifty Futures is Cautious. Any Rallies should still be used to sell Nifty Futures with appropiate stoplosses above 5220 zone for an immediate target of 4920 and thereafter if momentum continues @ 4800 mark.
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