NIFTY FUTURES OPENED Today on a very Bullish momentum at 5330 up by 25 points and market kept grinding higher slow and steadily.It made an intraday low of 5325.50 and an intrady high of the day was 5367.50.Nifty futures managed to hold above the 5350 mark through out the day and finally closed the at 5353.
Finally, Nifty Futures has managed to break out of the 2 weeks consolidation and managed to close above the triangle pattern.The weekly close on the charts is also very encouraging.Now, a close above today's high ie 5375 will add fuel to the fire and take Nifty Futures towards our intermediate target of 5550.On the downside, the support is at 5300 and only a close below 5200 will change the Positive near term trend of Nifty Futures.
Our View on Nifty Futures is Bullish for now.But heavy Buying will only emerge once Nifty Futures is able to take out the 5380 - 5400 zone.We could easily see the levels of 5550 if there is strong momentum with good Volumes.
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