Nifty Futures opened today with a gap up of approx 66 points @ 5325 in line with the positive opening from the Asian markets. It started its upward journey right from the beginning of the session , making an intraday high of 5377 after registering an intraday low of 5316 in the opening few minutes. Nifty Futures finally settled the day @ 5354.
Nifty Futures seems to be scaling new highs with each passing day , failing today just short of 20 points from its 7th April 2010 high of 5398. The next important support for Nifty Futures is @ 5300 and there after at the major trendline support of 5250 mark. The major resistance comes in at 5400 and thereafter @ 5450.
Our view on Nifty Futures is Bullish. Look out for the levels of 5300 - 5250 on the down side and 5400 - 5450 on the upside.
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