Nifty Futures opened today flat to lower by 12 points @ 5342 , due to lackluster trading in US & Asian markets. It was trading flat most of the session , and tried to move higher in the later half but met with selling pressure, making an intraday high of 5359 and intraday low of 5311 in the process. Nifty Futures settled the day @ 5325.
Nifty Futures today tried to consolidate yesterdays move and traded in a narrow range of only 48 points throughout the session. As mentioned yesterday the important levels to watch for in Nifty Futures is 5300 and there after 5250 on the down side and 5400 and 5450 mark on the upside.
Our view on Nifty Futures is Bullish. Nifty futures will try to scale pass the high of 5400 before the series expiry this weak. Only a close below the 5250 mark with heavy volumes will negate any up side momentum. The immediate levels to watch for is 5400 on upside and 5300 on the down side.
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