DOWN SIDE :5365 - 5225 - 4900
UP SIDE : 5480- 5515- 5555
NIFTY FUTURE:
On Friday, Nifty Future continued its up move and found resistance at the Trend Line as anticipated. I will observed 5480 level has acted as resistance on 5 times. It definitely indicates that this region is a strong resistance level which Nifty Future is not able to cross. In my view continues to remain cautious/bearish - even at the risk of being proved wrong, should Reliance go above 1000. On the higher side, we have to contend with resistance at 5515 and major resistance at 5555. n downside it will find support at 5363 (we may not be second time lucky) if 5363 breaks next levels 5315 and 5225 as minor supports.
For tomorrow, I would not advise fresh long position at higher levels.
Short position should be taken only below 5420 with stop loss of 5450. On downside it will find support at 5363 (we may not be second time lucky) - 5315 and 5225.
All the best.
All the best.
