NIFTY MADE A HIGHER HIGH , HIGHER LOW BUT A MILDLY LOWER CLOSING COMPARED TO FRIDAY’S CLOSING. THE FUTURES PRICE RUNNING WITH A DISCOUNT TO THE SPOT PRICE IS A SIGN OF ENCOURAGEMENT FOR THE BULLS TO SEE FURTHER PULLING UP OF NIFTY FUTURES AROUND THE EXPIRY TIME. BUYING THE DECLINES MAY REWARD THE TRADERS AS TUESDAY MAY SEE INITIAL FALL FOLLOWED BY RISE IN NIFTY.
FOR INTRADAY TRADING OF NIFTY FUTURES ON TUESDAY A SLIDE BELOW MONDAY’S LOWS OF 5440 MAY SEE FURTHER WEAKNESS TOWARDS 5424 FOLLOWED BY 5404 & THEN EVEN 5400 MAY BE BREACHED TO TEST 5380 TO 5370 FUTURE LEVELS. SIMILARLY ON THE HIGHER SIDE INITIAL FALL TOWARDS 5380 TO 5370 CAN SEE GOOD INTRADAY BUYING TO LIFT NIFTY FUTURES ABOVE 5400 LEVELS AGAIN. HOWEVER NIFTY FUTURE NEEDS TO BREACH AND SUSTAIN ABOVE 5477 TO 5488 IN ORDER TO MOVE UP FURTHER TO BREACH 5500 AGAIN.
FOR INTRADAY TRADING OF NIFTY FUTURES ON TUESDAY A SLIDE BELOW MONDAY’S LOWS OF 5440 MAY SEE FURTHER WEAKNESS TOWARDS 5424 FOLLOWED BY 5404 & THEN EVEN 5400 MAY BE BREACHED TO TEST 5380 TO 5370 FUTURE LEVELS. SIMILARLY ON THE HIGHER SIDE INITIAL FALL TOWARDS 5380 TO 5370 CAN SEE GOOD INTRADAY BUYING TO LIFT NIFTY FUTURES ABOVE 5400 LEVELS AGAIN. HOWEVER NIFTY FUTURE NEEDS TO BREACH AND SUSTAIN ABOVE 5477 TO 5488 IN ORDER TO MOVE UP FURTHER TO BREACH 5500 AGAIN.
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