NIFTY TRADING SYSTEM
Open : 5327.00 High : 5499.00
Low : 5310.00 Close : 5341.00
TREND : BEARISH
NIFTY FUTURES TRADES VIOLENTLY ON BUDGET SESSION………….
Nifty Futures traded violently on both the sides as the budget session progressed. With the Budget speech progressing we witnessed Nifty Futures climbing swiftly to the 5499 area from the 5350 mark trading earlier, and thereafter it just slipped immediately from higher levels to test an intraday low of 5310 and finally closing the day @ 5341.
The intermediate support zone for Nifty Futures is still @ 5180 - 5230 area. On the up side there seems to be a major resistance now coming in @ 5500 zone. A break of either side will move Nifty Futures by 200 points.
We are still Bearish on Nifty Futures and any rallies in the market should be treated as selling opportunities with proper stop loss.
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