NIFTY FUTURES OPENED TODAY With a minor gap down of 10 points at 5288, this was the high point of the day and market kept drifting lower the whole day.It made a small attempt to pull back in the mid session but sold off towards the end.Nifty futures made an intraday low of 5235.50 and closed the day @ 5247.
This has been one of the most non event Two weeks as far as Nifty Futures is Concerned.A major break of the consolidation is needed for Nifty Futures to regain momentum on either side.The Lower support is at 5200 - 5220 area whereas the resistance is at 5320 - 5350 zone.The Higher time charts suggest an upside break out whereas vice versa intraday charts suggest a downside break down.
We are neutral for Nifty Futures, as a break out of the trading range is required for a confirmed trade on either side with proper stoploss.The medium term downside target measures to 4950 and the Upside target suggets all the way upto 5650 mark.
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