NIFTY TRADING SYSTEM

NIFTY FUTURES opened today on a flat note @ 5430 , despite the positive closing from the US & European markets & positive trading in Asian markets. It traded in a very narrow range of 25 point between the intraday low of 5418 and 5442 , until the final hour of the session came as an unexpected major jolt to trading , taking Nifty Future all the way higher to 5494 and closing the day at almost the high point of the day @ 5490.

Nifty Futures has finally managed to break the higher end of the range of 5380 – 5480 with good volumes and momentum and has managed to close above the 5480 mark, which is a positive sign for the markets and a right platform to take it higher to 5550 mark and thereafter at 5600 level. The only word of cautious is that we are trading at the topmost point of the daily channel of 23.07.2010 which is @ 5497. On the down side the support to watch for 5420 mark and there after @ 5350 level .

Our view on Nifty Futures is Bullish . Nifty Futures has finally managed to break the trading range on the up side and any dips in the market can be treated as buying opportunity with appropriate stop loss.

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