NIFTY FUTURES ON A SPECTACULAR RUN……………
NIFTY FUTURES opened today gap higher by approx 42 points @ 5675 as suggested by the positive close in US , Europe and its peers Asian markets. The opening was almost the low point of the day and it continued the journey upward throught out the session breaking all the resistance in its way to register an intraday high of 5777. Nifty Futures finally closed the bullish day @ 5762.
Nifty Futures has closed the day on a very positive mark closing above the 5750 level with good volumes and excellent momentum opening the door for more upside in coming sessions. The next levels to watch for on upside are 5780 and thereafter the 5850 mark . On the down side the levels of 5700 and 5650 mark may act as support areas.
Our view on Nifty Futures is Bullish. Today’s spectacular rally has taken everyone by surprise and any dips in the market can be treated as buying opportunity with proper stop loss.
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