NIFTY FUTURES Opened Today on a negative tone @ 5298 down by 22 points.It spent the whole day in a narrow range of approx 60 points making an intraday high of 5334 and an intraday low of 5273.Nifty Futures finally closed the day @ 5286.
Nifty Futures is going through a consolidating phase struck in a range for past couple of days.A close above 5350 is required to regain the upside momentum in Nifty Futures and attract Bulls back into the markets.On the downside , 5250 area would act as a minor support for Nifty Futures.Only a close below 5150 zone will give a bearish signal and attract Bears back in Nifty Futures.
Our View on Nifty Futures is cautious for now. The intermediate trend is Bullish, But Nifty is facing some heavy resistance @ 5350 level.Nifty is poised for a correction towards 5150 to 5200 zone where Buying may re-emerge in Nifty Futures.
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