29th SEPTEMBER NIFTY VIEW

Though Nifty Future opened steady, it could not sustain at higher (6065) levels and came down to make a low of 6003, which is .618 level and also close to the trend line shown on the EOD chart. In the 2nd half, Nifty Future made a smart up move to close at 6050. Considering the EOD candle, it looks as if Nifty Future should continue its upward march.

Tomorrow, one can consider buying Nifty Future once it trades above 6070 with stop loss of 6045. On the higher side, it will find resistance at 6095 - 6115 and major resistance at 6170.

One needs to keep a watch on Reliance tomorrow, as it has done double bottom today and if it trades above 1015, it can help sustain Nifty Future's upward march - particularly in light of FNO settlement on Thursday.

All the best.