NIFTY FUTURES opened today on a flat note @ 5444 in line with its US & Asian markets. It tried twice to break pass the 5450 mark in the process making 5445 as in intraday high and finally collapsed, in the mid session towards the 5385 mark making the same as intraday low. Nifty Futures finally managed to close the session @ 5393.
As mentioned from previous 2 days, Nifty Futures is stuck in an narrow range of 5380 – 5480 , and today it found buying support at the lower end of the range ie at 5385 mark. Nifty Futures has managed to close below the rising trendline from 07.07.2010 and is poised for more down side. Probably we expect to find support @ 5350 mark, and the failure at this level will take Nifty Futures all the way down to 5250 major support zone. On the up side only a comfortable break and close above the 5480 mark will trigger the next bout of fresh buying taking Nifty Futures towards the 5550 – 5600 mark.
Our view on Nifty Futures is Flat . Since Nifty Futures is stuck in a narrow trading range of 5380 – 5480 . Opportunities arising on both sides can be traded with proper stop loss. The major trend is still on upside.
For a Reliable, Trustworthy ,Transparent and Accurate Trading Calls with Precise Entry, Stop loss And One Target in Nifty , Bank Nifty , Stocks (FNO) , Gold , Silver & Crude , Visit www.aaksharstock.com / www.aaksharcommodity.com and Register for a Free Trial
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment