NIFTY FUTURES IN A VOLATILE TRADING MOOD……………….
NIFTY FUTURES opened today on a flat note @ 5388 in line with the US & Asian markets. It traded the first half of the session in a dull mode with a range of only 20 points, making an intraday low of 5375. Nifty Futures witnessed a sudden bout of buying pressure emerging in the later half of the session making an intraday high of 5459 , surpassing the previous high of 5354 made on 14.07.2010. It finally closed the day @ 5448 .
Nifty Futures has broken the narrow range of 5350 – 5420 of previous few trading sessions and have finally managed to close above the minor resistance of 5420. On the upside the next resistance now comes in at 5480 and thereafter at the crucial 5550 – 5600 zone . On the down side a break of the major support @ 5350 mark with good volumes and momentum will take Nifty Future all the way down to the next crucial level of 5250.
Our view on Nifty Futures is Bullish. Corrections in Nifty Futures toward 5380 area can be used as a buying opportunity with proper stop loss.
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