NIFTY FUTURES opened today higher by 63 points @ 6050 due to the heavy premium in Nov Series, were as the global and Asian markets were subdued. Nifty Futures immediately started sliding down wards reducing the premium to 30- 35 points making an intraday low of 5966 . Nifty Futures seems to be sliding down, but better then expected results from ICICI bank forced the markets to make a sharp and violent V –shape recovery making an intraday high of 6066 and finally closing the volatile session @ 6040
Nifty Futures is getting volatile and moving in both directions sharply with each passing day , making it hard for the traders to trade on either direction. Once again Nifty futures has proved that it is moving violently in a trading range of approx 250 points , between 5950 – 6200. Any break of this range on closing basis with good volumes and momentum , will move nifty futures sharply on either direction.
Our view on Nifty Futures is FLAT. Any trade on either sides should be initiated with strict stop loss .
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