NIFTY ( SPOT): OPEN:5489.60 HIGH:5495.20 LOW:5391.95 CLOSE:5396.85
NIFTY ( FUT ): OPEN:5460.50 HIGH:5489.90 LOW:5398.05 CLOSE:5404.00
Nifty Futures today broke the lower range of the rising channel of 5420 with good volumes and heavy momentum ,closing the day @ 5404. On the downside the crucial level of 5350 will act as a support area, and if broken than we may see Nifty Futures sliding all the way to the important 5250 mark. On the upside we may witness an immediate resistance @ 5480 level and there after the next level to watch for will be the all important 5550 mark.
Our view on Nifty Futures is Flat to Negative . Nifty Futures has broken and closed below the trading range of 5420-5550 on daily charts. Any rallies in the market can be treated as selling opportunity with proper stop loss.
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